Section 153A Has Limits: No Seized Material, No Fresh Additions

RMS Diversified Pvt. Ltd. Vs DCIT (ITAT Delhi) Search Assessments: No Incriminating Evidence, No Addition – Abhisar Buildwell Applied- 153A Additions Need Incriminating Material – Suspicion Is No Substitute Delhi ITAT    held that additions u/s 153A for unabated assessment years cannot survive in absence of incriminating material found during search. Search u/s 132 was conducted on 11-10-2018 in PMC Group cases & assessments were framed u/s 153A r.w.s. 143(3) making additions mainly u/s 68, 69C & 14A on account of unsecured loans, share application money & related interest. ...