Reassessing income without any incriminating material found during search is unsustainable

Agrim Infraproject Private Limited Vs DCIT (ITAT Kolkata) ITAT Kolkata held that reassessing income post completion of assessment u/s 143(3) without any incriminating material found and seized during the course of search is unsustainable. Accordingly, addition thereof is liable to be deleted. Facts- After passing of the assessment order, a search was carried out at the premises of the assessee on 17.09.2015. AO thereafter issued a notice u/s. 153A of the Income Tax Act. The assessee has filed return of income in response to this notice declaring total income at Rs.58,43,030/-. AO has passed th...