Section 153A Invalid Where No Incriminating Material Found in Search: ITAT Delhi

Hector Enterprises Pvt. Ltd Vs DCIT (ITAT Delhi)

Section 153A Assessment Quashed – No Incriminating Material Addition Based Only on Retracted Statement Held Invalid

The Delhi ITAT allowed the assessee’s appeal and deleted the addition of ₹27.99 crore made as alleged long-term capital gains in proceedings under Section 153A, holding the entire assessment to be without jurisdiction and unsustainable on merits. The Tribunal noted that although a search was cond

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