https://www.taxtmi.com/caselaws?id=784165 Assessment u/s 153A was held invalid because no search authorization u/s 132 was issued, no search was conducted, and no panchnama was executed in the assessee's name; the assessment order also lacked any reference to seizure of incriminating material attributable to the assessee. Consequently, proceedings u/s 153A were not maintainable and the assessment was quashed. Independently, for an unabated assessment year, additions could not be made without incriminating material; the impugned addition u/s 68 was based only on audited books/financials and, on facts, current liabilities were unchanged across relevant years, negating any unexplained cash credit. The appeal was allowed and the addition was deleted. en-us Fri, 05 Dec 2025 00:00:00 +0530 Sat, 27 Dec 2025 14:17:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784165 Assessment u/s 153A was held invalid because no search authorization u/s 132 was issued, no search was conducted, and no panchnama was executed in the assessee's name; the assessment order also lacked any reference to seizure of incriminating material attributable to the assessee. Consequently, proceedings u/s 153A were not maintainable and the assessment was quashed. Independently, for an unabated assessment year, additions could not be made without incriminating material; the impugned addition u/s 68 was based only on audited books/financials and, on facts, current liabilities were unchanged across relevant years, negating any unexplained cash credit. The appeal was allowed and the addition was deleted. Case-Laws Income Tax Fri, 05 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784165