No additions can be made without incriminating material in cases of completed assessments

Harish Jain Vs ACIT (ITAT Jaipur)

The ITAT Jaipur recently adjudicated a case involving Harish Jain and the Assistant Commissioner of Income Tax (ACIT) concerning an addition of ₹55 lakh as undisclosed income. This dispute arose from a search operation conducted in September 2017 at the premises of Resonance Group, Kota, to which the appellant belongs. During the search, agreements related to a property transaction were seized, showing conflicting sale values. The Assessing Officer (AO) alleged that ₹55 lakh was paid in cash by Harish Jain, which was unaccounted for and added i

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