Additions only if some incriminating document found during search

Brief of the Case: In the case of CIT Vs. MGF Automobiles Ltd., Delhi High Court upheld the order of the ITAT that the additions could have been made by the AO only if some incriminating document was found during search. There was no incriminating material found during search. Hence, the Assessee’s appeal was upheld. Facts of the Case: The Assessee was a company dealing in the business of car dealership and service station. During the A.Y.2004-2005 it entered into amalgamation agreement with Compact Motors Limited (CML). Pursuant to an order passed by the High Court on 27th September 2004, ...