The Tax PublishersReview Petition (C) Diary No. 22394 of 2019, Civil Appeal Nos. 9604-9605 of 2018
2019 TaxPub(DT) 6298 (SC) : (2019) 418 ITR 0315 : (2019) 311 CTR 0258 : (2019) 266 TAXMAN 0461

INCOME TAX ACT, 1961

Section 153A

High Court by judgment ([ITA 52/2015, dt. 5-7-2017] : 2018 TaxPub(DT) 3596 (Del-HC)) affirmed the orders of CIT(A) and Tribunal as concurrent factual findings, which have not been shown to be perverse and, therefore, dismissed the appeal stating that no substantial question of law arose from order of Tribunal.

Search and seizure - Assessment under section 153A - Addition based on third party information gathered by Investigation Wing of Department -

Subsequent to filing of return and declaration of certain income, a search under section 132 was conducted in S group. Notice under section 153A was issued to assessee. AO observed that assessee had entered into purchase transactions with P. AO made addition on account of bogus purchase solely based on third party information, which was not subjected to any further scrutiny. Tribunal and High Court dismissed revenue's appeal. Held: On merits, disallowance was based solely on third party information, which was not subjected to any further scrutiny. High Court by judgment ([ITA 52/2015, dt. 5-7-2017] : 2018 TaxPub(DT) 3596 (Del-HC)) affirmed the orders of CIT(A) and Tribunal as concurrent factual findings, which have not been shown to be perverse and, therefore, dismissed the appeal stating that no substantial question of law arose from order of Tribunal.

REFERRED : CIT, New Delhi v. Odeon Builders Pvt Ltd. [ITA 52/2015, dt. 5-7-2017] : 2018 TaxPub(DT) 3596 (Del-HC) and ACIT, Central Circle-1, New Delhi v. Odeon Builders Pvt. Ltd. [I.T.A .No.-2685/Del/2012, dt. 16-5-2014]

FAVOUR : In assessee's favour

A.Y. :



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