Allowing the appeal the Tribunal held that when no incriminating material is found-proceedings is invalid. As regards reassessment there was no failure to disclose material facts hence reassessment proceedings in valid. As the books of account is not rejected-addition on account of alleged increase in margin is deleted (AY. 2013-14)
ABCI Infrastructure P. Ltd. v. ACIT (2023)104 ITR 255 (Guwahti) (Trib)
S. 153A : Assessment-Search-No incriminating material is found-Proceedings is held to be invalid-No failure to disclose material facts-Reassessment proceedings in valid-Books of account not rejected-Addition on account of alleged increase in margin is deleted. [S.28(i), 145-148-148]
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