https://www.taxtmi.com/caselaws?id=461031 ITAT Mumbai ruled on assessment u/s 153A, holding that AO cannot make additions without incriminating evidence found during search for completed assessments. For AY 2015-16, since assessment was finalized before search and no incriminating material was discovered, additions were unjustified and ordered to be deleted. Regarding u/s 68 addition, tribunal found long-term capital gains genuine as assessee provided complete documentation including demat records and bank transactions, which AO failed to disprove. Addition deleted. However, education cess deduction claim was rejected following retrospective amendment by Finance Act 2022. en-us Mon, 17 Oct 2022 00:00:00 +0530 Fri, 07 Mar 2025 19:19:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461031 ITAT Mumbai ruled on assessment u/s 153A, holding that AO cannot make additions without incriminating evidence found during search for completed assessments. For AY 2015-16, since assessment was finalized before search and no incriminating material was discovered, additions were unjustified and ordered to be deleted. Regarding u/s 68 addition, tribunal found long-term capital gains genuine as assessee provided complete documentation including demat records and bank transactions, which AO failed to disprove. Addition deleted. However, education cess deduction claim was rejected following retrospective amendment by Finance Act 2022. Case-Laws Income Tax Mon, 17 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461031