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2016 (7) TMI 1589 - HC - Income TaxAssessment u/s 153A - Depreciation on the opening WDV - Whether no incriminating material available with the Assessing Officer? - HELD THAT:- Under section 153A an assessment has to be made in relation to the search or requisition, namely, in relation to material disclosed during the search or requisition. If in relation to any assessment year, no incriminating material is found, no addition or disallowance can be made in relation to that assessment year in exercise of powers u/s 153A and the earlier assessment shall have to be reiterated. As rightly pointed out by controversy involved in the present case stands concluded by the decision of this court in the case of CIT-1 v. Jayaben Ratilal Sorathia [2013 (7) TMI 850 - GUJARAT HIGH COURT] wherein it has been held that while it cannot be disputed that considering section 153A AO can reopen and/or assess the return with respect to six preceding years; however, there must be some incriminating material available with the AO with respect to the sale transactions in the particular assessment year. - Decided in favour of the assessee
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