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| The Tax Publishers2020 TaxPub(DT) 1735 (Del-Trib) : (2020) 184 ITD 0847 : (2020) 081 ITR (Trib) 0549 INCOME TAX ACT, 1961
Section 153A
Regular assessment unabated as on date of search, could not be interfered with while framing search assessment under section 153A because assessee had disclosed receipt of concerned advance as per balance-sheet and mere recovery of agreement to sell, through which, advance was received by assessee could not be treated as incriminating material found during search.
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Search and seizure - Assessment under section 153A - No incriminating material found during search - Unabated assessment
AO pursuant to search conducted at assessee's premises framed assessment under section 153A and made addition under section 68 certain advance received by assessee. Assessee challenged this on the ground of no incriminating material found during search. Held: As regular assessment for the year under consideration remained unabatd as on date of search, therefore, same could not be interfered with while framing search assessment under section 153A as in the original return of income, assessee had disclosed receipt of concerned advance as per balance-sheet and mere recovery of agreement to sell, through which, advance was received by assessee could not be treated as incriminating material found during search.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2003-04
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