Disturbing concluded assessment in search assessment without incriminating material is untenable

Essel Mining & Industries Limited Vs DCIT (ITAT Mumbai) Held that in respect of concluded assessments, the earlier assessment completed should not be disturbed in the search assessments without existence of any incriminating material. Facts- The assessee, vide present appeal, had challenged the validity of assessment framed u/s.153C of the Income Tax Act for A.Y.2009-10 by making certain disallowances and additions without the existence of incriminating material for the year under consideration received from the Assessing Officer of the searched person. Conclusion- Held that it could be sa...