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| The Tax Publishers2022 TaxPub(DT) 1529 (Del-Trib) INCOME TAX ACT, 1961
Section 153A
Regular assessment which remained unabated as on date of search could not be interfered with while framing search assessment in the absence of incriminating material unearthed during search.
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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 on account of bogus share application money. Assessee challenged this on the ground of no incriminating material found during search.Held: Assessment for the year under consideration remained unabated as on date of search, therefore, same could not be interfered with while framing search assessment in the absence of incriminating material unearthed during search.
Followed:Kabul Chawla (2015) 380 ITR 573 (Del) : 2015 TaxPub(DT) 3486 (Del-HC) , Meeta Gutgutia (2017) 395 ITR 526 (Del) : 2017 TaxPub(DT) 1767 (Del-HC)and Singhad Technical Education Society (2017) 397 ITR 344 (SC) : 2017 TaxPub(DT) 3941 (SC).
REFERRED :
FAVOUR : In assessee favour.
A.Y. : 2004-05
IN THE ITAT, DELHI BENCH
N.K. BILLAIYA, A.M. & YOGESH KUMAR U.S, J.M.
Dy. CIT v. ACME Computers Ltd.ITA No. 1732/Del/2011, CO No. 52/Del/2014
21 February, 2022
In favour of assessee.
Appellant by : Kanav Bali, Sr. DR
Respondents by : Rajeev Saxena, Adv
N. K. Billaiya, A.M.
The above captioned appeal by the Revenue and cross objection by the assessee are preferred against the order of the learned Commissioner (Appeals), 1, New Delhi dated 14-1-2011 pertaining to assessment year 2004-15.
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