| |
| The Tax Publishers2019 TaxPub(DT) 2272 (Jp-Trib) INCOME TAX ACT, 1961
Section 153A
As no assessment for the year under consideration was pending as on the date of search, addition made while framing assessment could not be sustained in the absence of incriminating material found during search.
|
Search and seizure - Assessment under section 153A - No incriminating material found during search -
AO received information from investigation wing as to assessee being beneficiary of certain entry operators. Accordingly, search and seizure was conducted at assessee's premises and AO made addition under section 68 while framing assessment under section 153A. Assessee challenged this on the ground of no incriminating material unearthed during search.Held: As apparent, no incriminating material so as to lead addition under section 68 was discovered during search. AO had solely relied on the report of Investigation Wing. Even if the information/report of Investigation Wing considered as a relevant evidence, the same could not be regarded as incriminating material unearthed during the course of search. As no assessment for the year under consideration was pending as on the date of search, addition made while framing assessment could not be sustained in the absence of incriminating material found during search.
Relied:CIT v. Kabul chawla (2016) 380 ITR 573 (Del) : 2015 TaxPub(DT) 3486 (Del-HC).
REFERRED : Jai Steel (India) v. ACIT (2013) 219 Taxman 223 (Raj) : 2013 TaxPub(DT) 1647 (Raj-HC), Kota Dall Mill v. Dy. CIT and Vice-Versa in (ITA No. 997 to 1002/JP/2018 & 1119/JP/2018, ITA No. 1057 to 1062/JP/2018 & 1210/JP/2018, dt. 31-12-2018) : 2019 TaxPub(DT) 454 (Jp-Trib).
FAVOUR : In assessee's favour.
A.Y. :
IN THE ITAT, JAIPUR BENCH
 SUBSCRIBE FOR FULL CONTENT
|