Held that the additions made in the order passed under section 153A read with section 143(3) of the Act were not based on any incriminating material found during search and as the assessment for the assessment year 2011-12 had not abated, the additions made by the Assessing Officer had to be deleted. (AY. 2011-12)
Sensitive Vanijya P. Ltd. v. ACIT (2021) 86 ITR 99 (Kol.)(Trib.)
S. 153A : Assessment-Search or requisition-No incriminating material-Addition not sustainable-Share application money-Share premium-Identity of share holder established-Addition was held to be not valid. [S. 68]