In the absence of incriminating material found during the search ...

Addition for completed assessment without incriminating evidence unsustainable, rules court.

December 30, 2024

Case Laws Income Tax AT

In the absence of incriminating material found during the search u/s 153A, no addition can be made for the assessment year 2012-13, except supported by incriminating documents. This view finds support from the Supreme Court's judgment in PCIT vs. Abhisar Buildwell P. Ltd., wherein it was held that no addition can be made for completed assessments without incriminating material. Further, the Rajasthan High Court's decision in PCIT vs. M/s. Esspal International P. Ltd. stated that merely based on a retracted statement, no addition can be sustained. Consequently, the addition was directed to be deleted, deciding in favor of the assessee.

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In the absence of incriminating material found during the search ...

Addition for completed assessment without incriminating evidence unsustainable, rules court.

December 30, 2024

Case Laws Income Tax AT

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