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2018 (3) TMI 1923 - AT - Income TaxAssessment u/s 153A - Pending v/s completed assessments - HELD THAT:- There was no pending assessment at the time of issuance of notice under section 153A of the Act. Completed assessment could not be interfered with by the Assessing Officer while making the assessment under Section 153A without any incriminating material unearthed during the course of search. This is clearly laid down in Kabul Chawla’s [2015 (9) TMI 80 - DELHI HIGH COURT] case. Similarly, assessment cannot be arbitrary or made without any relevance or nexus with the seized material. The assessment has to be made under this section only on the basis of seized material. The cash found during the search was properly explained in the hands of the Company to which cash belonged and there was no other incriminating document found during search related to the bank entries. We are of the considered view that on these findings relief was given to the assessee by the ld. CIT(A) and we do not find any infirmity in his order and the relief granted to the assessee is, therefore, sustained. - Decided in favour of assessee.
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