Additions Under Section 153A Quashed for Lack of Incriminating Material

Deepak Kakubhai Mehta Vs DCIT (ITAT Mumbai) Section 153A Additions on Alleged Cash Loans & Notional Interest Quashed—No Incriminating Material, Statements Alone Insufficient The Mumbai ITAT (D Bench) allowed the appeals of Deepak Kakubhai Mehta for AYs 2012-13 to 2018-19 and deleted massive additions made under sections 69, 56 and 69A, holding that the entire assessments suffered from fundamental jurisdictional and evidentiary defects. The Tribunal held that: For completed/unabated assessment years (AYs 2012-13 to 2017-18), no incriminating material whatsoever was found during the sear...