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The Tax PublishersITA Nos. 502 & 503/Mum/2019
2020 TaxPub(DT) 3328 (Mum-Trib)INCOME TAX ACT, 1961
Section 153A
In the absence of any incriminating material found during search, no additions could be made in the assessment framed under section 143(3) read with section 153A where regular assessment for the year under consideration remained unabated as on date of search.
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Search and seizure - Assessment under section 153A - No incriminating material found during search -
AO pursuant to search conducted at assessee's prermises framed assessment under section 153A and made disallowance of deduction claimed under section 80-IA(4). Assessee challenged this on the ground of no incriminating material found during search. Held: There was no reference to any incriminating material found as a result of search, in respect of disallowances of deductions claimed under section 80-IA(4). Therefore, in absence of any incriminating material found during search, no additions could be made in the assessment framed under section 143(3) read with section 153A as regular assessment for the year under consideration remained unabated as on date of search.
Applied:CIT v. Continental Warehousing Corporation (Nhava Sheva) Ltd. (2015) 374 ITR 645 (Bom) : (2015) 279 CTR 0389 (Bom) : 2015 TaxPub(DT) 2182 (Bom-HC)Supported by:Pr. CIT v. Meeta Gutgutia (2018) 96 taxmann.com 468 (SC) : 2018 TaxPub(DT) 4130 (SC) CIT v. Kabul Chawla (2016) 380 ITR 573 (Del) : 2015 TaxPub(DT) 3486 (Del-HC)
REFERRED :
FAVOUR : In assessee's favour
A.Y. : 2005-06 & 2006-07
IN THE ITAT, MUMBAI BENCH
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