Addition u/s 153A for completed assessments not valid if no incriminating material found during search

Brief of the Case ITAT Mumbai held In the case of M/s. Ideal Appliances Co. Pvt. Ltd. vs. DCIT that it is settled legal position that no addition can be made to the income already assessed since no incriminating material was unearthed during the search. Also in those cases where the assessment had been completed under summary scheme under section 143(1) and time limit for issue of notice under section 143(2) had expired on the date of search, it will be considered that there was no assessment pending. Therefore, addition could be made only on the basis of incriminating material found during se...