No Section 153A Addition Without Incriminating Material from Search

A.P. Refinery Pvt. Ltd Vs DCIT (ITAT Chandigarh) No Addition could be made under section 153A of Income Tax Act, 1961 in absence of incriminating material found during course of search under section 132 Conclusion: Addition under Section 153A could not be made in the absence of incriminating material found during the course of a search conducted under Section 132. In case no incriminating material was unearthed during the search, AO could not reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Held: Assessee-company was engaged in the...