Scope of assessment U/s.153A in absence of incriminating material

Pr.Cit Vs. Saumya Construction Pvt Ltd. (Gujarat High Court) Brief: Under section 153A of the Act, an assessment has to be made in relation to the search or requisition, namely, in relation to material disclosed during the search or requisition. If in relation to any assessment year, no incriminating material is found, no addition or disallowance can be made in relation to that assessment year in exercise of powers under section 153A of the Act and the earlier assessment shall have to be reiterated. Intention behind insertion of  Section 153A Section 153A bears the heading “Assessment in c...