Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2019 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (8) TMI 774 - AT - Income TaxValidity of issue of notice u/s 153C - additions made without having seized material - HELD THAT:- There is no dispute that in this case, by the time the search was conducted, the assessment was unabated and no incriminating material was found and seized from the premises of the person searched. The department has not placed any evidence to show that the incriminating material was available for the impugned assessment year. The only issue in this case is with regard to the addition of ₹ 1,07,55,000/- for which the CIT(A)has given a finding that the said amount was already admitted in the books of accounts and the assessee filed the return of income - AO made the addition on the basis of the capital account which was filed in the original return of income. No incriminating material was made available during the course of search. Notice issued u/s 153C is invalid and accordingly, we quash the notice issued u/s 153C and annul the assessment made u/s 143(3) r.w.s.153C - Decided in favour of assessee.
|