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2023 (9) TMI 599 - AT - Income TaxAssessment u/s 153A - incriminating seized document suggesting that share capital/share application money were non-genuine found or not? - HELD THAT:- As in this case, there is no seized incriminating material. List of shareholders by no stretch of imagination can be said to be incriminating material. Hence, jurisdiction assumed is not as per law. The fact that no incriminating material for the year was seized has not been disputed by the Revenue. Hence, we allow the ground raised.
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