2015 (10) TMI 1761 - HC - Income Tax

Gifts received from family members - Could not be proved to be genuine by the Assessee - whether income related to incriminating documents found during the search u/s 132 could be assessed u/s 153A even though the provisions of Section 153A mandate that the Assessing Officer assess or reassess the Total Income of the Assessee searched u/s 132? - ITAT deleted the addition - Held that:- On issue of jurisdiction itself the issue stands concluded against the revenue by the decision of this Court in Continental Warehousing Corporation (Nhava Sheva) Ltd. (2015 (5) TMI 656 - BOMBAY HIGH COURT ). In the appeal before us, the revenue has made no grievance with regard to the impugned order of the Tribunal holding that in law the proceedings under Section 153A of the Act are without jurisdiction. This in view of the fact that no assessment were pending, so as to abate nor any incriminating evidence was found.

Once it is not disputed by the revenue that the decision of this Court in Continental Warehousing Corporation (Nhava Sheva) Ltd. (supra) would apply to the present facts and also that there are no assessments pending on the time of the initiation of proceedings under Section 153A of the Act. The occasion to consider the issues raised on merits in the proposed questions becomes academic. No substantial question of law. - Decided against revenue.