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2017 (12) TMI 1463 - AT - Income TaxRevision u/s 263 - addition of gifts - proceedings u/s 153A - Held that:- Since no information relating to the impugned gifts was found during the course of search the Assessing Officer could not have made any addition vis-ŕ-vis the said gifts in the order passed u/s 153A and, therefore, the Ld.Pr.CIT cannot now hold the order of the Assessing Officer as erroneous for not making addition on account of the same. The Hon’ble Delhi High Court in the case of CIT vs Mahesh Gupta(2016 (12) TMI 684 - DELHI HIGH COURT) has in identical factual matrix, where the order sought to be revised was passed u/s 153A and the addition sought to be made was not based on any incriminating material found during search, held the assumption of jurisdiction by the CIT u/s 263 as bad - Decided in favour of assessee.
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