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2019 (6) TMI 988 - ITAT JAIPURInitiation of proceedings u/s 153A - addition of Unexplained cash credit U/s 68 - initiate the proceeding U/s 147/148 instead of making the addition in the proceeding U/s 153A - HELD THAT:- No quarrel the AO was bound to proceed U/s 153A in pursuant to the search and seizure action however, if there is no incriminating material to reassess the income of the assessee then the AO legally cannot make the addition based on the information and evidence received from the Investigation Wing, Mumbai and consequently ought to have completed the reassessment U/s 153A without making any addition. We uphold the order of the ld. CIT(A) in deleting the addition made by the AO due to legal hurdle of making such addition without incriminating material but if the material and evidence received by the AO during the course of reassessment proceedings U/s 153A which was not available with the AO at the time of passing the assessment U/s 143(3) then, it is open to the AO to initiate the proceeding U/s 147/148 of the Act instead of making the addition in the proceeding U/s 153A - Appeal of the Revenue is dismissed.
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