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2018 (5) TMI 1820 - ITAT DELHIAssessment u/s 153A - enhancement of income - assessments made pursuant to search operation - higher deduction u/s 80 IC - Held that:- In the present case the impugned seized paper does not belong to the Assessment Years involved in the impugned appeals. Furthermore, with respect to the same paper it is also important to note that it is evident from that paper that Surya Vinayak Industries have over paid the assessee than what it should have allegedly paid for over invoicing. This evident facts also runs contrary to the other finding that Surya Vinayak industries is company of not having capacity to supply so much material in para no 145 of the order. If it is so then how it could have paid the assessee over and above what is required to be paid if the goods are over invoiced.it cannot be disputed that assessee has purchased the material. Now the issue is at what rate. If it Is the case of the revenue that assessee has purchased goods at ₹ 100 But has booked purchases at ₹ 150 and received ₹ 50 back from the supplier in cash, then revenue should have brought on record the near about comparable prices of those material with reasonable evidences. These facts could have been proved either by the availability of the material in the market or also by the production cost of the supplier. Revenue has not brought on record any such material. Most of the part of the order justifying the addition in absence of this merely remains allegations without evidences. Additions in such a manner cannot be sustained. As none of the documents seized during the course of search are shown to us pertaining to the Assessment Year 2005-06 to 2009-10, we are of opinion that all the additions made by the ld Assessing Officer are not based on incriminating documents found during the course of search, hence they are not sustainable. There is no incriminating material found during the course of search relevant to Assessment Year 2005-06 to AY 2009- 10, which are concluded Assessment Year, and could have been disturbed only on the basis of any incriminating material showing escapement of income found during the course of search relevant to that assessment year only. Hence, we do not have any other option but to allow ground No. 1 of the appeal of the assessee for the impugned assessment years. - Decided in favour of assessee.
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