No Income Tax Addition Permissible in Unabated Assessment Without Incriminating Material Found During Search u/s 132: ITAT

Reiterating its consistent stance on the matter, the Income Tax Appellate Tribunal (ITAT) has once again quashed additions made to the income of assessees in unabated assessment cases where no incriminating material or evidence was discovered during the course of any search operations conducted by the tax authorities. This decision reinforces the principle that arbitrary additions to income cannot be made in assessments that have already been completed, particularly in the absence of any concrete evidence of undisclosed income unearthed during a search or seizure action.