No Incriminating Material, No Addition in Section 153A Assessments

DCIT Vs Ashok B. Jiwrajka (ITAT Mumbai) No Incriminating Material, No s.153A Addition: ITAT Mumbai Quashes Penny-Stock LTCG Additions in Search Cases ITAT Mumbai (A Bench) in DCIT vs Ashok B. Jiwrajka (ITA Nos. 2355, 2352, 2353 & 2351/Mum/2021; AYs 2012-13 to 2015-16; order dated 23.12.2025) has dismissed Revenue appeals and allowed assessee’s cross-objections, holding that additions u/s 68 and 69C in unabated years cannot survive in absence of incriminating material found during search. The case arose from a search u/s 132 on 09.04.2015, followed by assessments u/s 153A alleging bogus L...