Pr. CIT v. RSA Digi Prints - Taxpublishers.in

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The Tax Publishers2019 TaxPub(DT) 0004 (SC)

INCOME TAX ACT, 1961

Section 261 Section 153A

Where the department preferred SLP to appeal against the judgment of the Gujarat High Court in Pr. CIT v. RSA Digi Prints [Tax Appeal No. 469 of 2017 with Tax Appeal Nos. 471, 504, 505 of 2017, dt. 6-9-2017] : 2019 TaxPub(DT) 10 (Guj-HC), whereby the High Court held that there is nothing on record to suggest that the observations of the Tribunal that no incriminating material was found during the search with the aid of which the additions could have been made was inaccurate, and in that view of the matter as held by this Court in Pr. CIT v. Desai Construction (P) Ltd. 2016 TaxPub(DT) 4526 (Guj-HC) and Pr. CIT v. Saumya Construction (P) Ltd. 2016 TaxPub(DT) 3466 (Guj-HC) and Delhi High Court in CIT v. Kabul Chawla (2016) 380 ITR 573 (Delhi) : 2015 TaxPub(DT) 3486 (Del-HC) the Tribunal was correct in quashing the assessments under section 153A(1) of the Act, the Supreme Court condoned delay and accepting the prayer of the petitioner to withdraw the SLP in the light of the CBDT Circular No. 3/2018, dated 11-7-2018, dismissed the SLP as withdrawn.

Appeal (Supreme Court) - Special leave petition - Assessment under section 153A - Incriminating material pertaining to unexplained cash credit found during search

Department preferred SLP to appeal against the judgment of the Gujarat High Court in Pr. CIT v. RSA Digi Prints [Tax Appeal No. 469 of 2017 with Tax Appeal Nos. 471, 504, 505 of 2017, dt. 6-9-2017] : 2019 TaxPub(DT) 10 (Guj-HC), whereby the High Court held that there is nothing on record to suggest that the observations of the Tribunal that no incriminating material was found during the search with the aid of which the additions could have been made was inaccurate, and in that view of the matter as held by this Court in Pr. CIT v. Desai Construction (P) Ltd. 2016 TaxPub(DT) 4526 (Guj-HC) and Pr. CIT v. Saumya Construction (P) Ltd. 2016 TaxPub(DT) 3466 (Guj-HC) and Delhi High Court in CIT v. Kabul Chawla (2016) 380 ITR 573 (Delhi) : 2015 TaxPub(DT) 3486 (Del-HC) the Tribunal was correct in quashing the assessments under section 153A(1) of the Act.Held: The Supreme Court condoned delay and accepting the prayer of the petitioner to withdraw the SLP in the light of the CBDT Circular No. 3/2018, dated 11-7-2018, dismissed the SLP as withdrawn.