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The Tax PublishersITA No. 1498/Chd/2019
2020 TaxPub(DT) 5332 (Chd-Trib)INCOME TAX ACT, 1961
Section 153A
In the absence of incriminating material found during search, assessment for the year under consideration which remained unabated as on date of search, could not be interfered with while framing search assessment under section 153A.
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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, made assessment under section 153A and made addition. Assessee challenged this on the ground that no incriminating material was found during search. Held: In the absence of incriminating material found during search, assessment for the year under consideration which remained unabated as on date of search, could not be interfered with while framing search assessment under section 153A.
Relied:CIT v. RRJ Securities Ltd. and Vica-Versa (2015) 380 ITR 612 (Del-HC) : 2015 TaxPub(DT) 4278 (Del-HC), CIT v. Saumya Construction (P) Ltd. TAx Appeal No. 24 of 2016, dated 14-3-2016 : 2016 TaxPub(DT) 3466 (Guj-HC) and Pr. CIT v. Sunrise Finlease (P) Ltd. (2017) 89 Taxmann.com 1 Guj) : 2017 TaxPub(DT0 5548 (Guj-HC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2010-11
IN THE ITAT, CHANDIGARH BENCH
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