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2014 (9) TMI 1071 - AT - Income TaxAssessment u/s 153A - validity of additions made - Held that:- The underlying purpose of making assessment of total income u/s 153A is to assess income which is not disclosed or would not have been disclosed. Second proviso to section 153A providing for abatement of assessment or reassessment, which is applicable only in proceedings pending on the date of search or requisition for the reason that there cannot be two assessments for a single assessment year. See CIT Vs. M/s Murali Agro Products vide [2010 (10) TMI 1052 - BOMBAY HIGH COURT]. It is also a settled position of law that reassessment is permitted in an assessment u/s 153A, only if incriminating material is found during the course of search. In the case in hand, the question is whether any incriminating material has been found in the course of search relating to the additions made. The Revenue could not show any incriminating material found in the course of search which would warrant the impugned additions. Therefore, we are of the considered opinion that there is no justification for the authorities below to consider the issues in the assessment passed u/s 153A. In view of that matter, both the additions made in the impugned assessment order are not justified. - Decided in favour of assessee.
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