The Tax Publishers2019 TaxPub(DT) 7150 (Rkt-Trib)

INCOME TAX ACT, 1961

Section 153A

Originally return was filed under section 139(1) and time-limit to issue notice under section 143(2) has expired before search was conducted upon assessee on 11-10-2006 and since no material was found during search relating to concerned assessment year exhibiting escapement of taxable income or availability of undisclosed income. Nothing would abate for making a fresh assessment under section 153A.

Search and seizure - Assessment under section 153A - No incriminating material found during search -

AO pursuant to search conducted at assessee's premises framed assessment under section 153A and made addition, to the income of concerned year, however, without any incriminating material found during search.Held: Originally return was filed under section 139(1) and time-limit to issue notice under section 143(2) has expired before search was conducted upon assessee on 11-10-2006 and since no material was found during search relating to concerned assessment year exhibiting escapement of taxable income or availability of undisclosed income. Nothing would abate for making a fresh assessment under section 153A.

Relied:CIT v. Kabul Chawla (2015) 380 ITR 573 (Del) : 2015 TaxPub(DT) 3486 (Del-HC).

REFERRED :

FAVOUR : In assessee's favour.

A.Y. : 2001-02 to 2007-08

INCOME TAX ACT, 1961

Section 153A

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