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2014 (5) TMI 427 - AT - Income TaxAddition of block assessment proceedings u/s 153A or 153B of the Act – Held that:- Following CIT Vs. Anil Kumar Bhatia [2012 (8) TMI 368 - DELHI HIGH COURT] - in the block assessment, no addition can be made unless some incriminating material is found during the search in behalf of additions - while making the assessment or reassessment, in block assessment u/s 153A or 153C no addition can be made in the absence or reference to any incriminating material qua the addiitons. Estimation of net profits @ 5% of gross sale of shares - Admission of additional evidence – Contravention of Rule 46A of the Act – Held that:- Assessee’s books of accounts are duly audited and no specific or general fault has been found - CIT(A) has rightly held that there is no scope for rejecting the books and estimating the profits without any incriminating evidence or giving any cogent reasons in this behalf – the AO has not referred and least of all not indicated to any incriminating material for rejecting the books and estimating the profits - Thus, the additions in questions are bereft of any support or relevance to any incriminating material whatsoever – the view of the CIT(A) in admitting the additional evidence is perfectly valid and tenable - No infirmity thereto can be found - the AO cannot sit over the requisition of a superior appellate authority - CIT(A) for submitting the directed remand report - the record reflects that no adverse comments are offered by the assessing officer on the additional evidence and merits - the books of accounts are duly audited - no specific or general fault is indicated by the AO - there is no reliance on any incriminating material – there was no infirmity the order of CIT(A) in deleting the additions – Decided against Revenue.
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