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2017 (7) TMI 1411 - HC - Income TaxAssessment u/s 153A - proof of existence of any incriminating documents found or seized during the search action under Section 132 -disallowance of the assessee's claim of LTCG and treating the same as business income - HELD THAT:- Tribunal has dismissed the Revenue's appeal by following the decision of this Court in CIT Vs All Cargo Logistic Ltd Corporation [2015 (5) TMI 656 - BOMBAY HIGH COURT] Where no assessment has been completed under Section 143(1) and only processing of returns is done, the AO is competent to invoke the jurisdiction under Section 153A/153C of the Act and complete the assessments following the procedure laid down under Section 143(3) of the Act, even in the absence of incriminating documents - The impugned order has dismissed the Revenue's appeal by following the decision of this Court in CIT Vs Gurinder Singh Bawa [2015 (10) TMI 1761 - BOMBAY HIGH COURT]. As the impugned order of the Tribunal has merely followed the orders of this Court, no fault can be found with the same.
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