2017 (9) TMI 850 - BOMBAY HIGH COURT

Assessment u/s 153A/153C - proof of incriminating material in support of the additions made under Section 68 and under Section 14A - Held that:- Additions made by the Assessing Officer were in the absence of any incriminating material. Therefore, they are not sustainable and they came to be deleted.

We do not think that any view other than the one taken by the Division Bench of this Court in the case of The Commissioner of Income Tax, Central­-IV vs. M/s. SKS Ispat & Power Limited [2017 (7) TMI 813 - BOMBAY HIGH COURT] or the reported judgment in Continental Warehousing Corporation and All Cargo Global Logistics (2015 (5) TMI 656 - BOMBAY HIGH COURT ) can be taken.

Tribunal has not committed any error because the addition made under Section 68 of the IT Act deserves to be deleted. See Govind Agarwal (HUF) vs. DCIT [2013 (5) TMI 874 - ITAT MUMBAI ] - Decided against revenue