Initiation of Proceedings u/s 153A not valid if no incriminating material found during search

Brief of the case:

In the case of INTAS pharmaceuticals Ltd. Vs. DCIT Ahmedabad Bench of ITAT have held that initiation of proceedings u/s 153A in absence of any incriminating material found in search conducted after finalization of regular assessments is not sustainable. In making above observation ITAT followed direction prescribed by special bench of ITAT in All India Cargo Logistics (DCIT 137 ITD 287).

Facts of the case:

• The assessee company manufactures and trades in p

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