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2020 (10) TMI 749 - AT - Income TaxAssessment u/s 153A - Assessee argued absence of any incriminating material found during the course of search - Addition u/s 68 - credit worthiness of the loan creditors/share applicants and genuineness of the transaction - HELD THAT:- The requirement that the incriminating material to have the co-relation to the particular addition sought to be made is a logic that will hold good not only for Section 153 C of the Act but in relation to Section 153A of the Act as well. Consequently no error having been committed by the ITAT in accepting the plea of the Assessee that there is no incriminating document which was seized in the course of search relating to the addition sought to be made on account of the share capital. Therefore, the jurisdictional requirement of Section 153 A of the Act was not satisfied. Additions made under section 153A in the orders passed under section 153/143(3) of the Act are not in accordance with the law - Decided in favour of assessee.
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