ACIT v. Moon Beverages Ltd. - Taxpublishers.in

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The Tax Publishers2020 TaxPub(DT) 5251 (Del-Trib)

INCOME TAX ACT, 1961

Section 153A

Since regular assessment for the year under consideration remained unabated as on date of search and, therefore, such unabated assessment could not be interfered with while framing search assessment under section 153A in the absence of incriminating material found during search.

Search and seizure - Assessment under section 153A - No incriminating material found during search - Unabated assessment

AO, pursuant to search conducted at assessee's premises, framed assessment under section 153A and made addition under section 68 on account of receipt of unexplained share capital/premium. Assessee challenged this on the ground of no incriminating material found during search. Held: Admittedly, regular assessment for the year under consideration remained unabated as on date of search and, therefore, such unabated assessment could not be interfered with while framing search assessment under section 153A in the absence of incriminating material found during search.

Supported by:Pr. CIT v. SMC Power Generation Ltd. [ITA 406/2019, Order, dated 23-7-2019] : 2019 TaxPub(DT) 5810 (Del-HC), Asstt. CIT v. Versatile Polytech (P) Ltd. vide ITA No. 2257/Del/2018 and ITA No. 1088/Del/2018 for assessment years 2009-10 and 2014-15 : 2019 TaxPub(DT) 2413 (Del-Trib), Metbrass Plassim India Ltd. v. Asstt. CIT [ITA No. 7532/Del/2017, Order, dated 17-9-2018] and Pr. CIT v. L.T. Foods (P) Ltd. vide ITA No. 67/2020 and CM No. 4576-77/2020, Order, dated 4-2-2020 : 2020 TaxPub(DT) 960 (Del-HC).

REFERRED :

FAVOUR : In assessee's favour.

A.Y. :

IN THE ITAT, DELHI BENCH

R.K. PANDA, A.M. & SUCHITRA KAMBLE, J.M.

ACIT v. Moon Beverages Ltd.

ITA Nos. 115 to 118/Del/2018, CO Nos. 73 to 76/Del/2018 (ITA Nos. 115 to 118/Del/2018), ITA Nos. 122 & 123/Del/2018, CO Nos. 86 & 87/Del/2018 (ITA Nos. 122 & 123/Del/2018)

27 November, 2020

In favour of assessee.

ITA Nos. 111 to 114/Del/2018, CO Nos. 79 to 82/Del/2018 (ITA Nos. 111 to 114/Del/2018), ITA No. 816/Del/2018, CO No. 88/Del/2018 (ITA No. 816/Del/2018), ITA No. 119/Del/2018, CO No. 90/Del/2018 (ITA No. 119/Del/2018), ITA Nos. 124 & 125/Del/2018 & 815/Del/2018, CO No. 71, 72 & 70/Del/2018 (ITA Nos. 124 & 125/Del/2018 & 815/Del/2018), ITA Nos. 128 & 129/Del/2018, CO Nos. 84 & 85/Del/2018 (ITA Nos. 128 & 129/Del/2018)

Assessee by: Gautam Jain, Advocate

Revenue by: Pramita M. Biswas, Commissioner--Departmental Representative

ORDER

R.K. Panda, A.M.

This batch of appeals filed by the Revenue are directed against the separate orders of the learned Commissioner (Appeals)-26, New Delhi, relating to different assessment years as mentioned above.

2. The respective assessees have filed cross objections against the appeal filed by the Revenue. Since identical grounds have been taken by the Revenue in these appeals and by the respective assessees in their cross objections, therefore, these were heard together and are being disposed of by this common order.

3. First, we take up ITA No. 115/Del/2018 and CO No. 73/Del/2018 as the lead case in the case of M/s. Moon Beverages Ltd. for assessment year 2009-10.