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| The Tax Publishers2019 TaxPub(DT) 4789 (Del-HC) INCOME TAX ACT, 1961
Section 153A
Where no incriminating material was unearthed during the search and AO had not made reference to any seized material found during the course of search, therefore, assessment under section 153A was not sustainable.
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Search and seizure - Assessment under section 153A - Validity of -
In the instant petition, assessee assailed the assessment under section 153A of the Income Tax Act, 1961 following a search and seizure operation under section 132 carried out on a group concern. Contention of assessee was based on the ground that no incriminating material was found against it during the course of the search. Held: CIT(A) and Tribunal rightly considered assessee's contention on merits and quashed the assessment under section 153A of the Income Tax Act following the decision of High Court in CIT (Central)-III v. Kabul Chawla (2016) 380 ITR 573 (Del) : 2015 TaxPub(DT) 3486 (Del-HC).
Followed:CIT v. Kabul Chawla (2016) 380 ITR 573 (Del) : 2015 TaxPub(DT) 3486 (Del-HC)
REFERRED : ACIT v. Varun Beverages Ltd. [ITA Nos.832, 863 And 864/Del/2015, dt. 20-11-2018]
FAVOUR : In assessee's favour
A.Y. :
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