The Tax Publishers2019 TaxPub(DT) 0161 (Kol-Trib)

INCOME TAX ACT, 1961

Section 153A

Completed assessment could not be interfered with while framing assessment under section 153A in the absence of any incriminating material unearthed during search.

Search and seizure - Assessment under section 153A - No incriminating material found in search -

AO pursuant to search conducted at assessee's premises framed assessment under section 153A and made addition under section 68 on account of unexplained share capital. Assessee's case was that assessment for the year under consideration remained unabated on the date of search and no incriminating material was found during search so as to make addition under section 68.Held: Admittedly, no incriminating material was unearthed during search in respect of concluded assessments, therefore, no addition could be made while framing assessment under section 153A.

Relied:CIT (Central)-III v. Kabul Chawla (2016) 380 ITR 573 (Del-HC) : 2015 TaxPub(DT) 3486 (Del-HC).

REFERRED :

FAVOUR : In assessee's favour.

A.Y. :



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