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2022 (9) TMI 1486 - AT - Income TaxAssessment u/s 153A - Unexplained credit u/s 68 - undisclosed income of the assessee - HELD THAT:- To move into motion section 153C of the Act something belonging to the assessee must be found in the premises of searched person and at the same time “incriminating material” should be qua the each assessment year. Hon’ble Supreme Court while deciding the scope of section 153C in case of Sinhgad Technical Education Society (2017 (8) TMI 1298 - SUPREME COURT) held that incriminating material which was seized had to be pertained to the assessment year in question and this is the basic requirement u/s 153C which is essential for the assessment under that provision which becomes a jurisdictional issue. In the instant case also no “incriminating material” is there qua the years under consideration. Even in the bank statement available name of the assessee is not there and as such very initiation of the assessment proceedings u/s 153C of the Act is not sustainable in the eyes of law. Thus as very initiation of assessment made under section 143(3) read with section 153C of the Act has not withstood the judicial scrutiny on account of jurisdictional defect there is no need to go into the merits qua the addition/deletion made by AO/ Ld. CIT(A). Decided in favour of assessee.
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