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2017 (9) TMI 459 - AT - Income TaxAssessment completed u/s 153A - proof of incriminating paper found as a result of search - Held that:- Sec. 153A is indeed an extremely potent power which enables the Revenue to reopen at least six years of assessments earlier to the year of search. It is not to be exercised lightly. It is only if during the course of search under Section 132 incriminating material justifying the reopening of the assessments for six previous is found that the invocation of Section 153A qua each of the assessment years would be justified. If no incriminating materials were found during the course of search in respect of an issue, then no additions in respect of any issue can be made to the assessment u/s 153A and 153C. In the present case, it is not the case of revenue that the assessment has been framed on the basis of incriminating material found during the course of search. The Hon’ble Jurisdictional High Court in the case of Jai Steel (India) vs. ACIT [2013 (6) TMI 161 - RAJASTHAN HIGH COURT] as relied by the assessee and also held that for the completed assessment, same can be tinkered only based on the incriminating material found during the course of search or requisition of documents. Therefore, the assessment in the case, where the assessment has been completed or not pending on the date of search. The Assessing Officer can frame assessment only on the basis of the incriminating material gathered during the course of search. The Revenue has not placed any material on record suggesting that the impugned assessment was framed on the basis of incriminating material. - Decided in favour of assessee.
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