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2017 (4) TMI 470 - AT - Income TaxAssumption of jurisdiction u/s 153C - proof of incriminating material found during the search and seizure operation - Held that:- AO has completed the assessment u/s. 153C of the I.T. Act, 1961 and made the addition in dispute without any incriminating material found during the search and seizure operation and the addition in this case was purely based on the material already available on record, which is not sustainable in the eyes of law, hence, needs to be deleted. Also on the perusal of the assessment order undisputedly indicates that no reference whatsoever has been made to any material found/ seized during the course of search. Thus we delete the addition in dispute and allow the appeal of the Assessee because AO has completed the assessment and made the addition in dispute without any incriminating material found during the search and seizure operation and the addition in this case was purely based on the material already available on record, which is not sustainable in the eyes of law. - Decided in favour of assessee
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