Dismissing the appeal of the revenue the Court held that the Tribunal is justified in deleting the addition when no incriminating material was found in the course of search proceedings.
PCIT v. Dhananjay International Ltd. (2020) 114 taxmann.com 317 (Bom.)(HC) Editorial : SLP is granted to the revenue, PCIT v. Dhananjay International Ltd (2020) 270 Taxman 15 (SC)
S. 153C : Assessment-Income of any other person-Search-Share capital-Deletion of addition is held to be justified when no incriminating material was found in the course of search action. [S. 68]