Addition is unsustainable if no incriminating material found during search

DCIT Vs Mapsa Tapes Pvt. Ltd. (ITAT Delhi) Facts-Assessment u/s 153C was challenged on the grounds that assessment order dated 31.3.2016 u/s 153C/143(3) was passed without dropping the proceedings initiated vide notice dated 8.9.2015 under section 153A of the Act and disposing off the objection filed by the assessee to initiation of assessment proceedings. Further, it was alleged that in absence of any satisfaction note recorded in the case of searched person, the assumption of jurisdiction to initiate proceedings under section153C of the Act against the assessee was illegal, invalid and unten...