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2019 (5) TMI 1977 - AT - Income TaxAssessment u/s 153A - Addition u/s 68 - incriminating material as found during the course of search or not?HELD THAT:- Assessees have admittedly filed original returns of income which were accepted and no assessment proceedings were pending on the date of search. No incriminating material was found during the course of search so as to make addition u/s.68 - assessees have shown commission / brokerage income received in cash in the original return of income. AO in the orders passed u/s.153A / 144 of the Income Tax Act in absence of explanation from the side of the assessee treated this said receipt of cash as commission / brokerage unexplained cash credit u/s.68 of the Act. Thus, no incriminating material was found during the course of search against all the three assessee for making addition u/s.68 - The issue is therefore covered by above judgments reproduced above. No addition could be made of this nature in the assessment order u/s.153A of the Income Tax Act. Appeal of assessee allowed.
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