Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (11) TMI 540 - AT - Income TaxValidity of assessment order u/s 143(3) r.w.s 153C - Addition u/s 68 - Held that:- For the proposition that “when no assessment has abated, the question of making any addition or making disallowance which are not based on only material found during the search is bad in law. See case of Shri Govind Agarwal [2014 (2) TMI 810 - ITAT MUMBAI] In the absence of any incriminating material found during search, additions made on the assessed income are unsustainable in law, we are of the considered opinion that the additions made in the instant case are not sustainable and accordingly, we delete the additions made in the assessment u/s 68 on account of share application money. Decided in favour of the assessee.
|