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2014 (1) TMI 1702 - AT - Income TaxValidity of reassessment under Section 153A - addition of gifts - whether any incriminating materials were found in the course of search? - Held that:- No incriminating material was found in the course of search and particulars/details were filed along with returns of income whose assessments were already completed. Therefore, there is no justification for the Assessing Officer to reconsider those issues in the assessments passed under Section 153A. In fact, the Assessing Officer is contemplating a review of the assessments already made by him prior to the date of search. A review is not permissible under the statute. What is interesting in the present case is that the assessments for assessment year 2005-06 have been completed under Section 143(3). Inspite of the scrutiny assessment, Revenue has not sought investigation on the question of gifts. Therefore, there cannot be second inning in the course of assessment contemplated under Section 153A. Thus as no incriminating materials were found in the course of search and as such, the question of gifts cannot be considered in the assessment completed under Section 153A, since the returns were filed and assessments were completed thereon, well before the search - Decided in favour of assessee
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