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2023 (8) TMI 1276 - AT - Income TaxAssessment u/s 153A - Addition made protectively in respect of share capital in the absence of any incriminating material found in the course of search - CIT(A) deleted the addition - HELD THAT:- The finding of the CIT(Appeals) that it is an undisputed fact apparent from the assessment order that no incriminating documents/records for any other evidence was found or seized during the course of search proceedings which resulted in any addition in the case of the assessee was not rebutted with evidences by the Revenue before us. In the circumstances the ratio laid down in case of CIT vs. M/s Kabul Chawla [2015 (9) TMI 80 - DELHI HIGH COURT] was rightly applied by the Ld.CIT(A) also affirmed in the case of PCIT vs. Abhisar Buildwell Pvt. Ltd [2023 (4) TMI 1056 - SUPREME COURT].- In the circumstances, no valid reason to interfere with the findings and the decision taken by the Ld.CIT(A) on the issue. Thus, we reject the grounds raised by the Revenue and sustain the order of the Ld.CIT(Appeals). Decided against revenue.
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