No addition in case of unabated assessment if no incrimination material was found

ACIT Vs Diamond Plaza (P) Ltd. & Vice-Versa (ITAT Cuttack)

Conclusion: Assessment under section 153A could not be made for making addition of unexplained income if assessment was unabated which had attained finality on the date of search and no incriminating material was found as per record.

Held: AO having considered the original assessment order u/s.143(3), made addition pursuant to search conducted at assessee’s premises on account of unexplained income of Rs.75 lakhs shown a

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