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2015 (7) TMI 986 - AT - Income TaxValidity of assessment u/s. 143(3) r.w.s. 153A - assessee’s claim has been disallowed u/s. 80IA - Held that:- Search was conducted at the premises of assessee on 24.09.2008, wherein assessee admitted undisclosed income in respect of its other activities for the years 2008-09 and 09-10, which is evident from the impugned assessment orders. There is nothing on record to suggest that any other evidence including any incriminating material was found during course of search for the relevant assessment years in respect of claim u/s. 80IA of the Act. In this background, in absence of any incriminating material found during search, no addition can be made in respect of unabated assessments and which have become final as on the date of search. The completed assessments for the years under appeal have become final and are not abated since they are not pending as on the date of search. Therefore, even though pursuant to issue of notice u/s. 153A, assessments for 6 years immediately prior to the date of search are to be framed u/s. 153A, but in respect of unabated assessments which have become final and no incriminating material is found during the course of search for those years, no addition could be made in respect of such unabated assessments.See case of Continental Warehousing Corporation [2015 (5) TMI 656 - BOMBAY HIGH COURT] Thus Revenue authorities were not justified in making disallowance claimed u/s. 80IA in respect of unabated assessments because there was no incriminating document found during search which could suggest that claim u/s. 80IA is not permissible even though assessment u/s. 153A can be made. - Decided in favour of assessee.
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