Assessment u/s 153A in absence of incriminating material found during search is unsustainable

A. Thripurasundari Vs DCIT (ITAT Chennai) ITAT Chennai held that the scope of assessment after search u/s.153A of the Income Tax Act would be limited to the incriminating material/evidence found during the course of search. Facts- The first issue raised by assessee in this appeal is against the order of CIT(A) confirming the action of AO in completing assessment u/s.143(3) r.w.s. 153A of the Act in the absence of any incriminating material forming part of the search records indicating generation of undisclosed income. Conclusion- Hon’ble Bombay High Court in the case of CIT vs. SKS Ispat &am...