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2022 (9) TMI 1424 - ITAT DELHI
Assessment u/s 153A - Unsecured loan u/s 68 - incriminating material found during the search or not? - HELD THAT:- As in the absence of any incriminating material found during the search action and duly following the judgements in the cases of CIT (Central-III) vs. Kabul Chawla [2015 (9) TMI 80 - DELHI HIGH COURT] and Meeta Gutgutia [2017 (5) TMI 1224 - DELHI HIGH COURT] hold that the assessment u/s 153A/143(3) of the Act in the instant case was not justified and therefore is quashed.
Thus we hold that the addition made vide the assessment u/s 153A in the absence of any incriminating material is not sustainable. Appeal of the Revenue is dismissed.