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| The Tax Publishers2019 TaxPub(DT) 7646 (Del-Trib) : (2020) 077 ITR (Trib) 0567 INCOME TAX ACT, 1961
Section 153A
Regular books of account of assessee, by no stretch of imagination, could be treated as incriminating material, especially when entries had been duly made in books of account, which had been subjected to audit and audited financial statements were part of return of income filed much before date of search. Accordingly, addition on account of milk purchase tank was devoid of any incriminating material/documents unearthed during search and it could not be sustained as regular assessment proceedings remained unabated as on date of search.
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Search and seizure - Assessment under section 153A - AO seeking to treat regular books of account as incriminating material - Unabated assessment
During search at assessee's premises, tally accounting software was seized and same had been treated as incriminating material so as to make addition on acount of milk purchase tank while framing assessment under section 153A.Held: Regular books of account of assessee, by no stretch of imagination, could be treated as incriminating material especially when entries had been duly made in books of account, which had been subjected to audit and audited financial statements were part of return of income filed much before date of search. Accordingly, addition on account of milk purchase tank was devoid of any incriminating material/documents unearthed during search and it could not be sustained as regular assessment proceedings remained unabated as on date of search.
REFERRED : Kabul Chawla (2015) 380 ITR 573 (Del) : 2015 TaxPub(DT) 3486 (Del-HC) and Singhad Technical Educational Society (2017) 397 ITR 344 (SC) : 2017 TaxPub(DT) 3941 (SC).
FAVOUR : In assessee's favour.
A.Y. : 2009-10 to 2014-15
INCOME TAX ACT, 1961
Section 153A
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