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2019 (9) TMI 1709 - AT - Income TaxAssessment proceedings u/s 153C(1) - determining the six assessment years - HELD THAT:- As going by sec. 153A (1)(b) applicable in such a scenario except that to the extent of its exclusion in view of the first proviso to sec. 153C(1), the six assessment years in this taxpayer’s case preceding the assessment year relevant to the previous year in which the search is conduced (AY 2017-18 herein since the reference to date of search brings us to August, 2016) are 2016-17, 2015-16, 2014-15, 2013-14 2012-13 assessment year 2011-12 and not beyond that. Hon'ble Delhi high court’s twin decisions RRJ Securities Ltd [2015 (11) TMI 19 - DELHI HIGH COURT] and SSP Aviation Ltd. [2012 (4) TMI 335 - DELHI HIGH COURT] decide the very question in assessee’s favour going by the very reasoning. We conclude in these facts that the impugned assessments in assessment years 2009-10 and 2010-11 not sustainable in law. The same stand quashed. Assessment proceedings u/s 153C(1) - addition u/s 68 - Whether any incriminating material found or seized during the course of search? - HELD THAT:- Although the search assessment provision nowhere contemplates that addition should be strictly made on the basis of evidence found in the course of search or other post search material or information available with the AO which can be related to the evidence found, it does not mean that an assessment can be arbitrarily made without any relevance or nexus with the seized material. Such an assessment under this provision has to be made only on the basis of seized material. Learned CIT-DR fails to dispute that there is no such incriminating material so far as the twin sec. 68 addition(s) of cash deposits in question. We accordingly hold that the impugned assessment(s) deserve to be quashed for this precise reason alone since they are not based on any incriminating material found or seized during the course of search.
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