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The Tax PublishersITA No. 4056/Del/2017
2022 TaxPub(DT) 0095 (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 - Position of regular assessment
AO pursuant to search conducted in case of one 'P' initiated proceedings under section 153C over 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: Nowhere in the assessment order AO had given any finding that impugned addition was based on any incriminating document found during the course of search. Document which were mentioned in the seized document, were ROC, TDS returns banks cheque books for payment of taxes, fees, etc., pertaining to the assessee. Ostensibly, such documents could not be held to be incriminating. As regular assessment for the year under consideration remained unabated as on date of search, therefore, same could not be interfered with in the absence of incriminating material found during search. Therefore, addition not based on incriminating material was deleted.
Relied:CIT v. Sinhgad Technical Education Society (2017) 397 ITR 344 (SC) : 2017 TaxPub(DT) 3941 (SC) and Pr. CIT v. Allied Perfumes (P) Ltd. (2021) 431 ITR 237 (Del)-HC) : 2020 TaxPub(DT) 5499 (Del-HC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2011-12
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