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2020 (3) TMI 962 - AT - Income TaxAssessment u/s 153A - Addition u/s 68 and disallowance of consequential interest - HELD THAT:- As relying on KABUL CHAWLA [2015 (9) TMI 80 - DELHI HIGH COURT] no addition can be made in respect of assessments which have become final if no incriminating material is found during search or during 153A proceedings. However, it is seen that the Hon'ble Apex Court has not stayed or suspended the operation of the decision of the Hon'ble Bombay High Court in any manner and therefore, at the moment, the decision of jurisdictional High Court is binding on us and we are bound to follow it. Therefore, respectfully following the binding judicial precedents as enumerated hereinabove, the impugned additions of ₹ 1107 Lacs as made by Ld. AO u/s 68 and interest disallowance of ₹ 104.95 Lacs and partly confirmed by Ld. CIT(A), could not be sustained under law - Decided in favour of assessee.
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