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2020 (11) TMI 2 - AT - Income TaxAssessment u/s 153C - during the course of search and seizure operation certain books of accounts containing loose bundles identified as BNAH-01 & BNAH-02 were found which relate to the assessee company - HELD THAT:- CIT(A) examined the documents referred to by the AO i.e. BNAH-01, BNAH-02 and BNRO-18 and found that there is not a shred of incriminating material against the assessee. The judicial opinion on the issue of notice and framing of assessment u/s. 153C is that the assets or books of account or documents or information relating to/pertaining to the 'Other Person' must be incriminating in nature. Thereafter the CIT(A) annulled the assessment framed by the AO u/s. 153C of the Act relying on the decision of Hon'ble Supreme Court in the case of CIT Vs. Sinhgad Technical Education Society, [2015 (4) TMI 190 - BOMBAY HIGH COURT]. DR before us unable to controvert the above findings recorded by the CIT(A) by bringing any cogent material evidence. The assessee had filed return of income u/s. 139(1) of the Act on 22.11.2011 declaring income of ₹ 46,450/- and in pursuant to search, he filed return of income on 20.04.2015 declaring the same. We also noticed that on the date of search or satisfaction recorded, there is no any iota of evidence that the assessment was pending before the Revenue department. Accordingly, we have no hesitation but to uphold the findings of the CIT(A) annulling the assessment completed u/s. 153C of the Act in absence of any incriminating material. - Appeal of the Revenue is dismissed.
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