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2017 (9) TMI 530 - HC - Income TaxInitiation of assessments under section 153A - proof of incriminating material was found during the search - Held that:- There is nothing on record to suggest that the observations of the Tribunal that no incriminating material was found during the search with the aid of which the additions could have been made was inaccurate. In that view of the matter as held by this Court and the Delhi High Court, the Tribunal was correct in quashing the assessments under section 153A(1) of the Act. In that view of the matter, we see no reason to interfere. The second subsidiary observation and conclusion of the matter with respect to the pendency of the assessment in terms of second proviso to subsection (1) of section 153A, we need not comment.
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