https://www.taxtmi.com/caselaws?id=767996 The Court determined that the assessment under Section 153C of the Income Tax Act for the assessment year 2011-12 was invalid due to the absence of incriminating material, which is a prerequisite for such assessments. The additions made under Section 68 for unexplained investments and disallowance of interest on loans were also deemed unjustified, as they were not based on evidence found during the search. Consequently, the appeal was allowed in favor of the assessee, rendering the assessment order void ab initio. The Court did not further address issues of approval under Section 153D or principles of natural justice due to the primary finding. en-us Wed, 26 Mar 2025 00:00:00 +0530 Fri, 28 Mar 2025 08:31:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767996 The Court determined that the assessment under Section 153C of the Income Tax Act for the assessment year 2011-12 was invalid due to the absence of incriminating material, which is a prerequisite for such assessments. The additions made under Section 68 for unexplained investments and disallowance of interest on loans were also deemed unjustified, as they were not based on evidence found during the search. Consequently, the appeal was allowed in favor of the assessee, rendering the assessment order void ab initio. The Court did not further address issues of approval under Section 153D or principles of natural justice due to the primary finding. Case-Laws Income Tax Wed, 26 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767996