https://www.taxtmi.com/caselaws?id=771115 ITAT Mumbai-AT allowed appellant's appeal against addition under section 68 read with section 115BBE for unsecured loans treated as unexplained cash credits. The court held that for unabated assessments, no additions can be made without incriminating material found during search. Since the assessment year fell under unabated category as no notice under section 143(2) was issued before search date, and no incriminating material was found regarding the unsecured loans, the addition was deleted. The decision followed precedents from Delhi HC in Kabul Chawla case and SC in Abhisar Buildwell case. en-us Tue, 15 Apr 2025 00:00:00 +0530 Wed, 21 May 2025 08:29:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771115 ITAT Mumbai-AT allowed appellant's appeal against addition under section 68 read with section 115BBE for unsecured loans treated as unexplained cash credits. The court held that for unabated assessments, no additions can be made without incriminating material found during search. Since the assessment year fell under unabated category as no notice under section 143(2) was issued before search date, and no incriminating material was found regarding the unsecured loans, the addition was deleted. The decision followed precedents from Delhi HC in Kabul Chawla case and SC in Abhisar Buildwell case. Case-Laws Income Tax Tue, 15 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771115