Dismissing the appeal of the Revenue the Court held that no addition can be made in respect of completed/ unabated assessment in absence of any incriminating material found in search. Followed, PCIT v. Abhisar Buildwell (P.) Ltd. [2023] 454 ITR 212 (SC) (AY. 2008-09)
PCIT v. Kutch Salt and Allied Industries Ltd. (2023) 457 ITR 44 / 294 Taxman 124 (Guj.)(HC)
S. 153A : Assessment-Search-Ledge account-Not incriminating material-Unabated and concluded assessment-Addition cannot be made. [S. 132, 143(3), 153A(1)(b)]