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2016 (8) TMI 813 - HC - Income Tax
Assessment u/s 153A - disallowances of the expenditure - Held that:- We are in agreement with the views expressed in CIT, Bangalore Vs. IBC Knowledge Park (P) Ltd.[2016 (5) TMI 372 - KARNATAKA HIGH COURT ]that incriminating material is a pre-requisite before power could have been exercised under section 153C read with section 153A.
In the case before us, the assessing officer has made disallowances of the expenditure, which were already disclosed, for one reason or the other. But such disallowances were not contemplated by the provisions contained under section 153C read with section 153A. The disallowances made by the assessing officer were upheld by the CIT(A) but the learned Tribunal deleted those disallowances.