Dismissing the appeal of the Revenue the Court held that in absence of any incriminating material found during search, no addition could be made in assessment under sections 153C of the Act. (AY. 2008-09)
PCIT v. Sunway Realtech (P.) Ltd. (2022) 289 Taxman 543 /(2023) 457 ITR 123(Delhi)(HC)
S. 153C : Assessment-Income of any other person-Search-Unexplained investment-Share transaction-No incriminating material was found in the course of search-Addition cannot be made. [S. 69]