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| The Tax Publishers2021 TaxPub(DT) 5956 (Kol-Trib) : (2021) 092 ITR (Trib) 0035 INCOME TAX ACT, 1961
Section 263 Section 153A
As regular assessment stood completed therefore, same remained unabated as on date of search and, therefore, same could not be interfered with in the absence of incriminating material found during search. Accordingly, order passed by AO under sections 153A/143(3) without making any addition was neither erroneous nor prejudicial.
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Revision under secton 263 - Erroneous and prejudical order - No addition made by AO in search assessment vis-a-vis no incriminating material found during search -
Pr. CIT treated order passed by AO under section 143(3) read with section 153A as erroneous and prejudicial to the interest of revenue on the ground of no addition made by AO. Assessee challenged this on the ground of no incriminating material found during search.Held: As regular assessment stood completed therefore, same remained unabated as on date of search and, therefore, same could not be interfered with in the absence of incriminating material found during search. Accordingly, order passed by AO under sections 153A/143(3) without making any addition was neither erroneous nor prejudicial.
Relied:CIT v. Kabul Chawla reported in (2015) 380 ITR 573 (Del-HC) : 2015 TaxPub(DT) 3486 (Del-HC), Pr. CIT v. Kurele Paper Mills Pvt. Ltd. (2016) 380 ITR 571 (Del-HC) : 2016 TaxPub(DT) 1068 (Del-HC), CIT v. Veerprabhu Marketing Ltd. (2016) 388 ITR 574 (Cal-HC) : 2016 TaxPub(DT) 4132 (Cal-HC), Pr. CIT v. Salasar Stock Broking Ltd. GA No. 1929 of 2016/ITAT No. 264 of 2016 dated 24-8-2018, Indian Roadways Corporation Ltd. v. Pr. CIT, Central - 1, [ITANo.787/Kol/2018] dated 12-9-2018 : 2018 TaxPub(DT) 6952 (Kol-Trib) and Pr. CIT v. Salasar Stock Broking Ltd. GA NO. 1929 of 2016 /ITAT No. 264 of 2016.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2014-15
IN THE ITAT, KOLKATA BENCH
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