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2016 (4) TMI 1376 - AT - Income TaxValidity of the assessment order passed u/s. 153A - Addition of unexplained gifts u/s. 68 - HELD THAT:- Co-ordinate Bench of Mumbai Tribunal in the case of Gurinder Singh Bava Vs DCIT [2014 (2) TMI 731 - ITAT MUMBAI] has after relying on the decision of Special Bench of Tribunal in the case of Alcargo Global Logistics Ltd. has held that when the assessment had been completed under summary scheme under section 143(1) and time limit for issue of notice under section 143(2) had expired on the date of search and therefore there was no assessment pending in and in such a case there was no question of abatement. In the present case, the assessment had been completed under summary scheme under section 143(1) and time limit for issue of notice under section 143(2) had expired on the date of search. Therefore, there was no assessment pending in this case and in such a case there was no question of abatement. Therefore, addition could be made only on the basis of incriminating material found during search. The gift deeds and the copies of return of income of the donors that were found at the time of search could not be considered to be incriminating material for the purpose of addition in view of the fact that these very documents were the basis of the gifts that were considered by the assessee while crediting the capital account. In view of the aforesaid facts, we are of the view that these assessments framed u/s.153A need to be quashed. - Decided in favour of assessee.
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