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2019 (4) TMI 764 - AT - Income TaxAssessment u/s 153A - addition u/s 68 - assessment for the impugned year had not abated - HELD THAT:- The Ld.DR has not substantiated his contention that the Investment was from undisclosed cash credit, with any cogent evidence. No nexus has been shown to us by the DR between the unexplained cash deposited in bank and the investment made for purchase of land, documents pertaining to which were found during search. In the absence of any link having been established by the DR between the unexplained cash deposits and the investments found to have been by the assessee during search, we see no reason to view the two documents together to hold that the documents pertaining to the cash credits were incriminating documents found during search for the purpose of making addition u/s 153A of the Act, as argued by the DR. We therefore dismiss the contention of the Ld.DR. We hold that the addition u/s 68 on account of unexplained cash deposit in Bank & unexplained loan taken of was not based on any incriminating material found during search and could not be made u/s 153A. The addition so made is therefore directed to be deleted. - Decided in favour of assessee.
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