No addition for unabated assessment unless incriminating materials unearthed during search

Rashmi Metaliks Ltd. Vs DCIT (ITAT Kolkata) Conclusion: No addition could  be made under section 153A for an unabated assessment unless incriminating materials unearthed during search qua the assessment year under consideration. Held: Search operations was conducted u/s. 132 in the assessee’s premises and order u/s 153A/143(3) was passed assessing total income. Assessee contended that AO had no jurisdiction to disturb the original assessment completed on 30.12.2009 under section 143(3) read with section 153A in absence of any incriminating material found in course of search and when no proc...