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2019 (3) TMI 1757 - ITAT AMRITSARAssessment u/s 153A - Deemed dividend addition u/s 2(22)(e) - absence of any incriminating evidence found during the course of search and seizure proceedings - HELD THAT:- In the case before us no incriminating material was found during the course of the search and seizure proceedings conducted under section 132 of the I.T. Act on 11.02.2016. Apart therefrom, the fact that the assessment proceedings in the case of the assessee were not abated at the time when the search and seizure proceedings were conducted has also not been controverted by the learned D.R in the course of the proceedings before us. In a case where no assessment proceedings are pending on the date of the search and seizure proceedings, the assessment under section 153A can be carried out only on the basis of seized material. In a case, where no incriminating material is unearthed during the course of search proceedings and the assessment proceedings remain unabated as on the said date, no additions can be validly made in the hands of the assessee. Our aforesaid view is fortified by the judgment of the Hon’ble High Court of Delhi in the case of CIT vs. Kabul Chawla [2015 (9) TMI 80 - DELHI HIGH COURT] Thus as on the date of the search and seizure proceedings no assessment proceedings were pending in the case of the assessee, therefore, in the absence of any incriminating material having been found in the course of such proceedings no addition could have been validly made in the hands of the assessee. - Decided in favour of assessee.
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