Search Assessments based on incriminating materials were valid as approved by JCIT

K.K. Tourist Home Vs DCIT (ITAT Cochin) Conclusion: JCIT had granted proper approval after due consideration, and the additions were based on incriminating material found during the search. Tribunal held that in search assessments under section 153A, where incriminating evidence was unearthed, the additions made on such material were sustainable. Held: Assessee was a partnership firm engaged in the business of running tourist homes. Search and seizure operations under section 132 were conducted in the business premises of assessee. In response to the notices issued under section 153A, assessee...