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2017 (1) TMI 115 - AT - Income TaxAddition made u/s 153A/144C - transfer pricing adjustment addition - Held that:- When undisputedly complete details of income along with books of account and audited balance sheet have been filed by the assessee company during the assessment proceedings completed u/s 143 (3), no addition can be made in the absence of incriminating material, if any, unearthed during the search only. The contention of the ld. DR that non-furnishing of Form 3CEB by the assessee company during normal assessment proceedings is enough for reassessment of the case is not tenable because when all the transactions entered into by the assessee company with its AE supported with books of account and audited balance sheets have been brought on record during assessment proceedings completed u/s 143(3) it was for AO/TPO to apply their mind to make assessment accordingly. More so, it is not case of the revenue that the assessee has suppressed the international transaction with its AE during the assessment proceedings concluded u/s 143(3) of the Act. Even otherwise, the issue in controversy has already been decided in favour of the assessee for AYs 2006-07 and 2007-08 wherein reassessment was made u/s 153A consequent upon the search and seizure operation conducted on 21.01.2011. Vide order dated 14.12.2016 (supra), Hon’ble jurisdictional High Court held, in assessee’s own case for AYs 2006-07 and 2007-08 by following the law laid down in Kabul Chawla (2015 (9) TMI 80 - DELHI HIGH COURT), that completed assessment u/s 143(3) of the Act interfered with by AO/TPO u/s 153A is not tenable in the eyes of law. In view of what has been discussed above, we are of the considered view that without entering into the merits of this case, the addition made in this case u/s 153A/144C of the Act is not sustainable in the eyes of law, hence deleted. - Decided in favour of assessee.
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