No incriminating material, no addition – Kolkata ITAT

Kusumlata Sonthalia vs. PCIT (ITAT Kolkata) Preliminary issue of whether the addition could be framed u/s 153A of the Act in respect of a concluded proceeding without the existence of any incriminating materials found in the course of search. The scheme of the Act provides for abatement of pending proceedings as on the date of search. It is not in dispute that the assessment for the Asst. Year 2010-11 was originally completed and thereafter a search and seizure action was conducted on 05.03.2015, therefore, assessment year 2010-11 is an unabated assessment. Hence unless there is any incriminat...