No Addition in Unabated 153A Assessment Without Incriminating Material: ITAT Kolkata

ITO Vs Unicorn Land Developers Pvt. Ltd. (ITAT Kolkata) No Addition in Unabated 153A Assessment Without Incriminating Material – ITAT Kolkata Upholds Deletion of ₹1.15 Crore Share Capital Addition The Kolkata Bench of the ITAT dismissed the Revenue’s appeal and upheld deletion of ₹1.15 crores added u/s 68 in the hands of Unicorn Land Developers Pvt. Ltd. for AY 2012-13, holding that no addition can be made in an unabated assessment under section 153A in the absence of incriminating material found during search. The assessee’s original assessment had already been completed u/s 143(3) ...