Incriminating material – Search assessment

Sirs, In the absence of any incriminating material during the course of search or any adverse statement recorded in the deposition, can there any be addition to the income which was assessed under section 143(3) of the Act? Also, please guide if there are any judgements of Supreme Court in this regard. Thanking You

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  Reassessment proceedings U/SEc.148 on the basis of invalid IDS declaration

Assessee is partnership firm engaged in the business of construction.  assessee firm has filed the declaration under IDS for A.Y. 2015-16 and 2016-17 in respect of Income earned during the relevant A.Y. .In the said declaration assessee firm has claimed the credit for payment of advance tax paid prior , however the PCIT has not allowed the credit and considered the IDS declaration as invalid . The assessee firm has filed the WP against denial of credit of advance tax in IDS declaration and the  same is pending before the HC. AO has issued the Notice U/SEc. 148 on 30.06.2021…

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