Addition u/s 40A(3) unsustainable in absence of incriminating material

S. Ashokan Vs DCIT (ITAT Chennai) Addition towards cash payments u/s 40A(3) unsustainable in absence of any incriminating materials found during search – claim of assessee abruptly rejected that cash found during search pertains to earlier AY. Facts- The first issue in assessee appeal is validity of assessment order passed by the AO u/s.143(3) r.w.s.153A. The case of the assessee was searched on 29.03.2011 and as on date of search, assessment for the impugned assessment year 2008-09 was unabated/concluded, because time limit for statutory notice u/s.143(2) of the Act, was expired on 30th Sep...