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| The Tax Publishers2021 TaxPub(DT) 3590 (Hyd-Trib) INCOME TAX ACT, 1961
Section 153A
Where an assessment under section 153A making twin additions was framed in absence of any incriminating material found or seized during the course of search, was not valid and hence unsustainable.
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Search and seizure - Assessment under section 153A - No incriminating material unearthed during the course of search -
Assessee filed appeal against assessment framed under section 153A making twin additions on the ground that there was absence of incriminating material found or seized during the course of survey. Held: Revenue failed to dispute this assessment in issue as well as twin additions were nowhere based on any incriminating material found or seized during the course of search. Thus, in view of CIT v. Kabul Chawla (2016) 380 ITR 573 (Del) : 2015 TaxPub(DT) 3486 (Del-HC, CIT v. Continental Warehousing Corporation [(2015) 374 ITR 645 (Bom-HC) : 2015 TaxPub(DT) 2182 (Bom-HC) and CIT v. Salasar Stock Broking Ltd. [GA No. 1929/2016 dt. 24-8-2016 (Cal)] an assessment under section 153A framed in absence of any incriminating material found or seized during the course of search was not valid.
Followed:CIT v. Kabul Chawla [(2016) 380 ITR 573 (Del) : 2015 TaxPub(DT) 3486 (Del-HC)], CIT v. Continental Warehousing Corporation [(2015) 374 ITR 645 (Bom) : 2015 TaxPub(DT) 2182 (Bom-HC)] and <>i>CIT v. Salasar Stock Broking Ltd. [GA No. 1929/2016 dt. 24-8-2016 (Cal)].
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2001-02
IN THE ITAT, HYDERABAD BENCH
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