Addition invalid when no incriminating material was unearthed during search

ACIT Vs Varun Beverages Ltd. (ITAT Delhi) Addition in respect of completed assessments u/s 153A be made solely on the basis of post search enquiry when no incriminating material was unearthed during search is not valid.  A bare perusal of the assessment order shows that there is no mention of any incriminating material found during the course of search with respect to the unexplained advertisement expenses. There is also no incriminating material on which the Assessing Officer has made the other addition i.e., on account of disallowance u/s 14A of the IT Act. Therefore, it is quite clear that...