Assessment U/s. 153A: No incriminating material found, no addition can be made

Leelavati Vijaykumar Kotecha Vs ACIT (ITAT Pune) AO, pursuant to search and seizure conducted at assessee’s premises, framed assessment under section 153A and made addition. Assessee’s case was that regular assessment for concerned assessment year had attained finality and no incriminating material was found during search. As there was no incriminating material found during search, no addition could be made because on the date of search no regular assessment was pending. FULL TEXT OF THE ITAT JUDGMENT  This bunch of four appeals by the assessee are directed against the order of Commission...