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The Tax Publishers2013 TaxPub(DT) 1712 (Agra-Trib) : (2013) 142 ITD 0740 Income Tax Act, 1961 --Income from undisclosed sources--Addition under section 69A Capital introduced by partners in firm--Revenue challenged the deletion of addition on account of unexplained capital introduced in the assessee-firm by partners as assessing officer made addition of capital introduced by partners as unexplained investment. The Commissioner (Appeals) deleted the same. *Held:* Rightly so. Both the partners introduced the capital in assessee-firm and both are assessed to tax and have proved the fact of capital introduction, no addition is, therefore, sustained. Income Tax Act, 1961 Section 69A Income Tax Act, 1961 --Search and seizure--Condition precedent No notice under section 143(2) served and issued--Commissioner (Appeals) quashed assessment framed by assessing officer on the ground that no notice under section 143(2) was issued before making assessment. *Held:* Not rightly so, when notice under section 153A(1)(a) was issued no separate notice under section 143(2) was required to be issued. Income Tax Act, 1961 Section 132 Income Tax Act, 1961 Section 143(2) Income Tax Act, 1961 --Accounting method--Construction business Computation of work-in-progress (WIP)--assessing officer made addition of WIP on the basis of total work carried out by the assessee in three years, from which monthly WIP had been computed. The Commissioner (Appeals) allowed assessee's appeal. *Held:* Rightly so. Assessee made complete details of WIP and where addition was made in assessment year in appeal, the benefit should be given for next assessment year 2004-05, which is not given by the assessing officer. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers2013 TaxPub(DT) 1712 (Agra-Trib) : (2013) 142 ITD 0740

Income Tax Act, 1961

--Income from undisclosed sources--Addition under section 69A Capital introduced by partners in firm--Revenue challenged the deletion of addition on account of unexplained capital introduced in the assessee-firm by partners as assessing officer made addition of capital introduced by partners as unexplained investment. The Commissioner (Appeals) deleted the same. Held: Rightly so. Both the partners introduced the capital in assessee-firm and both are assessed to tax and have proved the fact of capital introduction, no addition is, therefore, sustained.

Income Tax Act, 1961 Section 69A

Income Tax Act, 1961

--Search and seizure--Condition precedent No notice under section 143(2) served and issued--Commissioner (Appeals) quashed assessment framed by assessing officer on the ground that no notice under section 143(2) was issued before making assessment. Held: Not rightly so, when notice under section 153A(1)(a) was issued no separate notice under section 143(2) was required to be issued.

Income Tax Act, 1961 Section 132

Income Tax Act, 1961 Section 143(2)

Income Tax Act, 1961

--Accounting method--Construction business Computation of work-in-progress (WIP)--assessing officer made addition of WIP on the basis of total work carried out by the assessee in three years, from which monthly WIP had been computed. The Commissioner (Appeals) allowed assessee's appeal. Held: Rightly so. Assessee made complete details of WIP and where addition was made in assessment year in appeal, the benefit should be given for next assessment year 2004-05, which is not given by the assessing officer.