The Tax Publishers2020 TaxPub(DT) 4058 (Del-Trib)

INCOME TAX ACT, 1961

Section 153A

Where in case of assessee assessment was already completed prior to the date of search and no increminating material was found during the course of search, addition made under section 68 could not be sustained.

Search and seizure - Assessment under section 153A - Addition not based on increminating material found during course of search -

AO issued notice under section 1533A at the business premises of assessee and in compliance thereto, assessee filed return of income. However, assessment was completed by making addition under section 68 against which assessee filed the present appeal. Held: Since in this case assessment was already completed prior to the date of search was not disputed by the authorities below and no material was found during the course of search, therefore, the issue was covered in favour of the assessee.

Followed:Pr. CIT v. Meeta Gutgutia (2017) 395 ITR 526 (Del.) : 2017 TaxPub(DT) 1767 (Del-HC).

REFERRED :

FAVOUR : In favour of assessee.

A.Y. : 2012-13



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