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| The Tax Publishers2020 TaxPub(DT) 4081 (Mum-Trib) INCOME TAX ACT, 1961
Section 153A
Where there was no incriminating material found during the course of search, AO was not justified in initiating proceedings under section 153A.
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Search and seizure - Assessment under section 153A - No increminating material found during course of search -
Assessee filed appeal against the order of making addition on account of unexplained gift under assessment made under section 153A on the ground that no increminating material was found during the course of search. Held: AO could not controvert the argument made by assessee nor could produce or made a statement that any incriminating material was available in the record of the AO. Once there is no incriminating material, the issue is squarely covered in favour of assessee and against Revenue by the decision in the case of Continental Warehousing Corporation [(2015) 374 ITR 645 (Bom) : 2015 TaxPub(DT) 2182 (Bom-HC)].
Followed:Continental Warehousing Corporation [(2015) 374 ITR 645 (Bom) : 2015 TaxPub(DT) 2182 (Bom-HC)].
REFERRED :
FAVOUR : In favour of assessee.
A.Y. : 2003-04 & 2004-05
IN THE ITAT, MUMBAI BENCH
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