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2021 (3) TMI 315 - AT - Income TaxAssessment u/s 153A - Addition u/s 68 - HELD THAT:- As the undisputed fact is that the additions made in this order passed u/s 153A r.w.s. 143(3) of the Act. are not based on any incriminating material found during search and as the assessment for the Assessment Year 2011-12 has not abated, we delete the additions by the Assessing Officer applying the principles laid down in M/s. Salasar Stock Broking Ltd.[2016 (8) TMI 1131 - CALCUTTA HIGH COURT] on this issue. Even otherwise, on merits all the share applicant companies have been assessed to tax by the Income Tax Department and their assessment orders are passed u/s. 143(3) of the Act. Appeal of the assessee is allowed.
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