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| The Tax Publishers2021 TaxPub(DT) 5875 (Del-Trib) INCOME TAX ACT, 1961
Section 153C
As regular assessment for the year under consideration remained unabated as on date of search, therefore, same could not be interfered with while framing search assessment under section 153C in the absence of incriminating material found during search.
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Search and seizure - Assessment under section 153C - No incriminating material found during search - Unabated assessment
AO, pursuant to search conducted in case of one 'P', initiated section 153C proceedings in assessee's case and made addition under section 68 towards unexplained share capital. Assessee challenged this on the ground of no incriminating material found during search. Held: As regular assessment for the year under consideration remained unabated as on date of search, therefore, same could not be interfered with while framing search assessment under section 153C in the absence of incriminating material found during search.
Relied:Pr. CIT v. Allied Perfumes (P) Ltd. (2021) 431 ITR 237 (Del-HC) : 2020 TaxPub(DT) 5499 (Del-HC) and CIT v. Kabul Chawla (2015) 380 ITR 573 (Del-HC) : 2015 TaxPub(DT) 3486 (Del-HC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2011-12
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