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2012 (11) TMI 665 - AT - Income TaxReopening of a concluded case u/s 153A - assessment in case of search / requisition - The AO ultimately completed the assessment u/s 143(3) allowing the claim of loss. In course of search assessment proceedings u/s 153A, the AO again considered the loss claimed of Rs.77,50,000 and made the addition only on the basis of the books of account of the assessee and not on the basis of any search material found as a result of search and seizure operation. Held that:- it is clear that there is no incriminating material found as a result of search on the basis of which the addition has been made. The AO has considered materials which is the subject matter of regular assessment. - in absence of any incriminating material found as a result of search, the addition made u/s 153A cannot be sustained - Decided in favor of assessee.
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