Facts already disclosed in return cannot constitute incriminating material found during search

ACIT Vs CMG Steels Pvt. Ltd. (ITAT Chennai) Facts already disclosed in return of income cannot constitute incriminating material found during search. Also held cross examination importance when requested without which addition becomes invalid In the present case, on perusal of facts available on record, we find that the AO has made additions towards unsecured loans on the basis of regular return of income filed by the assessee for the relevant assessment years without reference to any incriminating material found as a result of search. Although, the ld.DR has referred few documents found and s...