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2018 (1) TMI 585 - AT - Income TaxInitiation of proceeding under Section 153A - absence of any material found during the course of search operation - Held that:- Once the time limit for issuing notice under Section 143(2) of the Act expired, on the basis of return filed earlier, the assessment proceeding is terminated and it cannot be said that it was pending on the date of search. In this case, the assessment proceeding was terminated by operation of law since the time limit for issuing notice under Section 143(2) expired. Therefore, the concluded assessment by operation of law on expiry of time limit for issuing notice under Section 143(2), cannot be reopened. Hence, this Tribunal is of the considered opinion that in the absence of any material found during the course of search operation, there cannot be any assessment for the block period under Section 153A of the Act. Hence, the CIT(Appeals) has rightly deleted the addition made by the Assessing Officer. - Decided in favour of assessee
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