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2017 (12) TMI 752 - HC - Income TaxAddition u/s 68 - assessment u/s 153A - Held that:- It was noticed by the Income Tax Appellate Tribunal (ITAT) that in the course of the search proceedings, nothing incriminating was found in the premises, which could have led to the additions made. On the contrary, in some of these Appeals, the Assessee’s Returns, originally filed, had been scrutinized under Section 143(3) of the Act and the declarations with respect to share capital and/or unsecured creditors were accepted. As a consequence, applying the ratio in Commissioner of Income Tax versus Kabul Chawla, (2015 (9) TMI 80 - DELHI HIGH COURT ), the ITAT deleted the amounts brought to tax under Section 68 of the Act. Since Kabul Chawla (supra) was the decision rendered by the Division Bench of this Court and the ITAT merely followed it, this Court is of the opinion that no substantial question of law arises. - Decided against revenue
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