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2020 (2) TMI 148 - AT - Income TaxAssessment u/s 153A - Unexplained Cash Credit u/s. 68 - HELD THAT:- Tribunal quashed the orders of both the authorities below holding therein that when no incriminating material has been found during the course of search then, no addition can be made while framing the assessment u/s 153A of the Act. The aforesaid principle and ratio are clearly applicable on the facts of the present case also. Therefore, it is clear that no incriminating material was found during the course of search, which could have been utilized for making assessment u/s.144/153A - DR could not controvert the above facts by bringing any cogent material on record. It is also a fact that return was filed u/s.139(1) on 05.11.2008 and the due date of issue of notice u/s.143(2) is 30.09.2009 for A.Y.2008-2009. However, the search was conducted in case of the assessee on 11.04.2012 and the AO framed the assessment u/s.144/153A of the Act on 31.03.2015, therefore, it is clear that the assessment framed by the AO was abated in pursuance to the search. Accordingly, we set aside the impugned order passed by the CIT(A) and quash the assessment framed by the AO u/s.144/153A of the Act dated 31.03.2015. Thus, the legal ground raised by the assessee is allowed. Non considering advance tax payment thereby raising Income Tax demand - HELD THAT:- We have also gone through the ITR Return of the assessee for the assessment year 2013-2014, copies of which have been filed in the paper book at pages 7 to 19 and found that at page No.7, in column 7(a) of the Acknowledgement, the assessee has paid Advance Tax of ₹ 33,33,333/-. We also found from the ITR-4 form in the Schedule IT the assessee has disclosed the advance tax of ₹ 33,33,333/-. However, the ld. AR before us submitted that the same has not been taken into consideration by the AO while computing the income of the assessee. We think it fit to restore this issue to the file of AO to consider the advance tax paid by the assessee after verifying and examining the documents filed by the assessee before us in the form of paper book
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