https://www.taxtmi.com/caselaws?id=769075 The ITAT Delhi ruled in favor of the assessee, deleting additions made under section 153A. The court held that when no incriminating material was found during the assessee's search, additions cannot be made solely based on third-party statements recorded elsewhere. The tribunal emphasized that material relating to non-searched persons must be processed through section 153C procedures, requiring separate assessment orders. Following precedents from Calcutta Knitwears and Anand Jain HUF, the court concluded that without discovering undisclosed money, bullion, or property during the search, no additions could be sustained based on third-party statements alone. en-us Wed, 16 Apr 2025 00:00:00 +0530 Fri, 18 Apr 2025 08:38:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769075 The ITAT Delhi ruled in favor of the assessee, deleting additions made under section 153A. The court held that when no incriminating material was found during the assessee's search, additions cannot be made solely based on third-party statements recorded elsewhere. The tribunal emphasized that material relating to non-searched persons must be processed through section 153C procedures, requiring separate assessment orders. Following precedents from Calcutta Knitwears and Anand Jain HUF, the court concluded that without discovering undisclosed money, bullion, or property during the search, no additions could be sustained based on third-party statements alone. Case-Laws Income Tax Wed, 16 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769075