S. 153A Assessment in absence of incriminating docs not valid

CA Suraj R. Agrawal Brief of the Case:- If no incriminating documents/evidences were found during the course of search of third party, and hence, re computing the income u/s 153A is bad in law and liable to be quashed. Although Section 153A does not say that additions should be strictly made on the basis of evidence found in the course of the search, or other post-search material or information available with the AO which can be related to the evidence found, it does not mean that the assessment “can be arbitrary or made without any relevance or nexus with the seized material. Obviously an...