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The Tax PublishersIT (SS) No. 227 to 232/Ind/2017 & ITA No. 592/Ind/2017
2019 TaxPub(DT) 0630 (Ind-Trib)INCOME TAX ACT, 1961
Section 153A
As addition for unexplained cash deposits made in the course of search assessment was not based on any incriminating material/document found during search, rather it had been made on the basis of documents collected by AO during assessment proceedings, therefore, impugned addition could not be sustained.
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Search and seizure - Assessment under section 153A - No incriminating material found during search -
AO, pursuant to search conducted at assessee's premises, framed assessment under section 153A and made addition on account of unexplained cash deposits.Held: As evident, except jewellery and ornaments found in bank locker, no other documents pertaining to assessee were found during search. It clearly showed that addition for unexplained cash deposits was not based on any incriminating material/document found during search, rather it had been made on the basis of documents collected by AO during assessment proceedings, therefore, impugned addition could not be sustained.
Relied:All global Cargo Logistic Ltd. v. Dy. CIT (2012) 147 TTJ 513 (Mum-trib) : 2012 TaxPub(DT) 2464 (Mum-Trib), CIT (Central)-III v. Kabul Chawla (2016) 380 ITR 573 (Del-HC) : 2015 TaxPub(DT) 3486 (Del-HC) and Kanta Prasad Diwedi v. Dy. CIT [ITA No. 182/Ind/16, dated 19-9-2018.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2009-10 to 2015-16
INCOME TAX ACT, 1961
Section 153A
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