https://www.taxtmi.com/caselaws?id=467667 In an unabated search assessment, jurisdiction under section 153C fails where the seized material consists only of documents already reflected in the regular record and does not reveal fresh incriminating material with a live nexus to undisclosed income; the assessment was therefore void ab initio. Additions under section 68 also could not stand because the assessee furnished names, addresses, PAN, financial statements, bank statements and confirmations, thereby proving identity, creditworthiness and genuineness of the investor credits. Banking-channel receipts and the absence of reliable material showing cash introduction further supported the assessee; the additions were rightly deleted and the Revenue's appeals failed. en-us Mon, 17 Feb 2025 00:00:00 +0530 Sat, 28 Mar 2026 18:44:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467667 In an unabated search assessment, jurisdiction under section 153C fails where the seized material consists only of documents already reflected in the regular record and does not reveal fresh incriminating material with a live nexus to undisclosed income; the assessment was therefore void ab initio. Additions under section 68 also could not stand because the assessee furnished names, addresses, PAN, financial statements, bank statements and confirmations, thereby proving identity, creditworthiness and genuineness of the investor credits. Banking-channel receipts and the absence of reliable material showing cash introduction further supported the assessee; the additions were rightly deleted and the Revenue's appeals failed. Case-Laws Income Tax Mon, 17 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467667