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| The Tax Publishers2019 TaxPub(DT) 3966 (Sur-Trib) INCOME TAX ACT, 1961
Section 153A
As regular assessment for the the year under consideration remained unabated as on the date of search, therefore, same could not be interfered with while framing assessment under section 153A in the absence of incriminating material discovered during search.
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Search and seizure - Assessment under section 153A - No incriminating material unearthed during search - Regular assessment for relevant year remain unabated
AO based on search conducted at assessee's premises framed assessment under section 153A and made addition on account of unexplained cash credit under section 68. Assessee challenged this on the ground of no incriminating material found during search.Held: As regular assessment for the the year under consideration remained unabated as on the date of search, therefore, same could not be interfered with while framing assessment under section 153A in the absence of incriminating material discovered during search, accordingly addition could not be sustained.
Relied:Pr. CIT v. Meeta Gutgutia (2018) 257 Taxman 441 (SC) : 2018 TaxPub(DT) 4130 (SC); (ii) Pr. CIT v. Saumya Construction (P.) Ltd. (2016) 387 ITR 529 (Guj) : 2016 TaxPub(DT) 3466 (Guj-HC), Pr. CIT v. Devangi (2017) 394 ITR 184 (Guj.) : 2017 TaxPub(DT) 1376 (Guj-HC), Pr. CIT v. Jay Infrastructure & Properties (P.) Ltd. [Tax Appeal No. 740 of 2016, dt. 10-10-2016] : 2018 TaxPub(DT) 6162 (Guj-HC) and CIT v. Kabul Chawla (2016) 380 ITR 573 (Del) : 2015 TaxPub(DT) 3486 (Del-HC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2007-08 to 2010-11
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