2023 (1) TMI 131 - AT - Income Tax
Assessment u/s 153A - Addition u/s 68 - unexplained share capital received from 21 persons - HELD THAT:- We are of the considered opinion that the decision of Hon’ble Delhi High Court in the case of Kabul Chawla [2015 (9) TMI 80 - DELHI HIGH COURT[ is applicable in the facts and circumstances of the case. It is undisputed that no incriminating material was found during search and this is an unabated assessment. Hence, respectfully following the precedent, we hold that the addition is not sustainable on jurisdiction ground. - Decided in favour of assessee.