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The Tax PublishersTax Appeal No. 469 of 2017 with Tax Appeal Nos. 471, 504 & 505 of 2017
2019 TaxPub(DT) 0010 (Guj-HC)INCOME TAX ACT, 1961
Section 153A
Where no incriminating material was found during the search with the aid of which the additions could be made to the income of assessee, AO was not justified in making additions on account of unexplained cash credit.
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Search and seizure - Assessment under section 153A - Addition not based on any incriminating material found during search -
Pursuant to search, AO made additions to the income of assessee. AO contended that had the search not been initiated under section 132 and thereafter assessment proceedings under section 153A, assessee would have wriggled out the issue of unexplained cash credit, but Tribunal deleted the addition made to the income of assessee. Held: Since there was nothing on record to suggest that the observations of Tribunal that no incriminating material was found during the search with the aid of which the additions could be made was inaccurate, Tribunal was justified in quashing the assessment under section 153A.
Relied on:Pr. CIT v. Desai Construction (P) Ltd. 2016 TaxPub(DT) 4526 (Guj-HC) Pr. CIT v. Saumya Construction (P) Ltd. 2016 TaxPub(DT) 3466 (Guj-HC) CIT v. Kabul Chawla (2016) 380 ITR 573 (Delhi): 2015 TaxPub(DT) 3486 (Del-HC)
REFERRED :
FAVOUR : In assessee's fvaour.
A.Y. : 2009-10
IN THE GUJARAT HIGH COURT
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