https://www.taxtmi.com/caselaws?id=467911 For completed or unabated assessment years covered by section 153A, additions can be made only on the basis of incriminating material found during search under section 132 or requisition under section 132A. Here, the additions were supported mainly by statements and third-party information, but no corroborative material was found in the assessee's search record to show that the alleged loans were accommodation entries. On that footing, third-party statements and regular books could not by themselves sustain the additions under section 153A, and the merits of the additions did not require further examination. The additions were therefore treated as beyond jurisdiction and quashed in favour of the assessee. en-us Fri, 14 Feb 2025 00:00:00 +0530 Wed, 08 Apr 2026 20:27:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467911 For completed or unabated assessment years covered by section 153A, additions can be made only on the basis of incriminating material found during search under section 132 or requisition under section 132A. Here, the additions were supported mainly by statements and third-party information, but no corroborative material was found in the assessee's search record to show that the alleged loans were accommodation entries. On that footing, third-party statements and regular books could not by themselves sustain the additions under section 153A, and the merits of the additions did not require further examination. The additions were therefore treated as beyond jurisdiction and quashed in favour of the assessee. Case-Laws Income Tax Fri, 14 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467911