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2019 (3) TMI 282 - AT - Income TaxAssessment proceedings u/s 153A - additions in unabated assessments - denial of deduction u/s 80IB(10) - additions in unabated assessments without any incriminating material found during the course of search u/s 132 - time limit for issuance of notices u/s 143(2) stood expired in relation to the assessment year 2008-09 to 2010-11 much before the date of conducting the search - HELD THAT:- As in the case of PCIT Vs. Desai Construction (2016 (7) TMI 1211 - GUJARAT HIGH COURT) confirmed the view taken by the Tribunal upholding the contention of the assessee that as no incriminating material was found during the course of search which could have enabled the Assessing Officer to re-examine its claim for deduction u/s 80IB which was part of the assessment prior to the search and such assessment unabated. Similarly Hon'ble High Court of Bombay in the case of Continental Warehousing Corporation and All Cargo Global Logistics Ltd (2015 (5) TMI 656 - BOMBAY HIGH COURT) dismissing the revenue’s appeal holding that there was no incriminating material found during the course of search, the Tribunal was right in holding the power conferred u/s 153A being not expected to be exercised routinely, should be exercised if the search revealed any incriminating material. If that was not found then in relation to the second phase of three years, there was no warrant for making an order within the meaning of this provision”. Thus no addition/disallowance was called for Assessment Year 2008-09 to 2010-11 as no incriminating material was found during the course of search at the premises of the assessee as the time limit of issuance of notice u/s 143(2) of the Act stood expired much before the date of conducting search u/s 132 - decided in favour of assessee.
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