Absence of incriminating material during search- No Addition in Section 153A Assessment

DCIT Vs Shayona Land Corporation (ITAT Ahmedabad) The assessee was engaged in the business of development and construction. There was a search action u/s. 132 of the Act carried out on 15l October, 2013 in the case of the assessee. During the course of assessment, the assessing officer noticed that assessee has worked as developer for Shayona City and Shayona Estate. The assessing officer stated that in the group cases of other project pertaining to Aryamaan Scheme of Gajanand Corporation there was on money receipt which was voluntarily disclosed and additions were made for assessment year 201...