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| The Tax Publishers2020 TaxPub(DT) 0182 (Visakhapatnam-Trib) INCOME TAX ACT, 1961
Section 153A
Search took place on 24-11-2015 and time limit for issue of notice under section 143(2) expired on 30-9-2015, therefore, assessment had to be construed as a completed assessment. In completed assessments, no addition was permitted without support of incriminating material. As no incriminating material was found during search and deduction under section 80-IA was claimed by assessee in regular returns of income and audit report in Form 10CCB was filed manually. Therefore, addition made by AO without support of incriminating material under section 80-IA was unsustianable.
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Search and seizure - Assessment under section 153A - No incriminating material found during search - Unabated/completed assessment
AO based on search conducted at assessee's premises framed assessment under section 153A and made disallownace of deduction under section 80-IA. On the ground of assessee having filed Form No. 10CCB manually and not elecronically.Held: Search took place on 24-11-2015 and time limit for issue of notice under section 143(2) expired on 30-9-2015, therefore, assessment had to be construed as a completed assessment. In completed assessments, no addition was permitted without support of incriminating material. As no incriminating material was found during search and deduction under section 80-IA was claimed by assessee in regular returns of income and audit report in Form 10CCB was filed manually. Therefore, addition made by AO without support of incriminating material under section 80-IA was unsustianable.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2014-15 to 2016-17
INCOME TAX ACT, 1961
Section 69
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