Assessment u/s. 153A quashed as no incriminating material found during search

PCIT Vs Atria Wind (Kadambur) Pvt Ltd (Karnataka High Court) Karnataka High Court held that no incriminating material was found during the search proceedings and therefore no reassessment of income for the relevant assessment year could be made under Section 153A of the Income Tax Act. Accordingly, appeal of revenue dismissed. Facts- Office premises of the assessee was searched on 17.12.2020. Thereafter notice u/s. 153A of the Act was issued. AO determined the total income of the assessee at ₹1,89,11,81,757/-. The said determination was based on an addition of a sum of ₹1,91,95,68,251/- ma...