Section 153A Assessment: Addition in Unabated Year Requires Incriminating Material

Arshiya Limited Vs DCIT (ITAT Mumbai) Introduction: In the case of Arshiya Limited vs. DCIT (ITAT Mumbai), the Income Tax Appellate Tribunal (ITAT) ruled on the addition in the 153A assessment and whether it can be made solely on the basis of incriminating material. This article delves into the details of the case, the arguments presented, and the final decision reached by ITAT Mumbai. Detailed Analysis: The case involves appeals for the assessment years 2010-11 and 2012-13. Arshiya Limited, the assessee, was engaged in various business activities, including free trade warehousing, special eco...