Assessment u/s 153A in absence of incriminating material was not valid

Shri Raju J Soomaney Vs ACIT (ITAT Mumbai)

Conclusion: Since assessment originally made was unabated on the date of search and  assessment under section 153A was framed without any incriminating material found during the course of search,therefore, the same was not valid.

Held: CIT(A) confirmed the addition made by AO and also enhanced the assessment on account of gift received by assessee treating the same as non-genuine and unexplained. Assessee had cha

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