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2022 (3) TMI 708 - AT - Income TaxAssessment u/s 153A - Unexplained investment made in the a penny stock company - primary contention of the Assessee before the CIT(A) was that the assessment year under consideration was not an abated assessment year and the AO has been erred in making additions without there being any incriminating documents/materials - HELD THAT:- CIT(A) has returned factual finding that the additions made by the AO are not based on any incriminating material found during the course of search and the same remains uncontroverted. The Ld. Departmental Representative could not dispute the proposition that additions in the present case cases have not been made on the basis of any incriminating material found during search. CIT(A) has granted relief by following the decision of the jurisdictional High Court in the case of Continental Warehousing Corporation [2015 (5) TMI 656 - BOMBAY HIGH COURT] wherein it has been held that no addition can be made in respect of unabated assessments which have become final in absence of any incriminating material found during search. This view has also been upheld in the case of CIT vs. Sinhgad Technical Education Society and Others [2017 (8) TMI 1298 - SUPREME COURT]. We do not find any merit in the present appeal.
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