Section 153A cannot apply to years without incriminating material: Bombay HC

PCIT Vs RPS Infra Projects Pvt. Ltd. (Bombay High Court) Whether the additions be made under Section 153A for unabated years without incriminating material, and can the Tribunal ignore binding precedent because it is under challenge? The respondent Assessee is a undertaking government construction projects. It filed return for AY 2014-2015. A search was conducted on the group companies; on the basis of which addition was sought to be made disallowing bogus purchases. The AO made assessment for AY 2015-2016; 16-17; 17-18; 18-19. On appeal; CIT(A) allowed the appeal of the Assessee. It held that...