https://www.taxtmi.com/caselaws?id=769742 ITAT MUMBAI - AT dismissed revenue's appeals, holding that additions under s.68 cannot be made for completed or unabated assessment years where no incriminating material was found or seized during search proceedings u/s 132/132A. Assessments for relevant years were already complete or unabated, so the SC principle that absent seized incriminating material the AO cannot reassess or make additions in such years applies. Statements recorded during another person's search were held not to qualify as incriminating material per the HC authority, so no merit in revenue's appeals. en-us Fri, 21 Mar 2025 00:00:00 +0530 Tue, 14 Oct 2025 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769742 ITAT MUMBAI - AT dismissed revenue's appeals, holding that additions under s.68 cannot be made for completed or unabated assessment years where no incriminating material was found or seized during search proceedings u/s 132/132A. Assessments for relevant years were already complete or unabated, so the SC principle that absent seized incriminating material the AO cannot reassess or make additions in such years applies. Statements recorded during another person's search were held not to qualify as incriminating material per the HC authority, so no merit in revenue's appeals. Case-Laws Income Tax Fri, 21 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769742