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2021 (7) TMI 365 - AT - Income TaxAssessment u/s 153A - absence of incriminating material found or seized during the course of survey - HELD THAT:- We are dealing with an "unabated" assessment as on the date of search 20.10.2005 since regular assessment hereunder had already been framed on 18.11.2003. DR fails to dispute this assessment in issue as well as twin additions are nowhere based on any incriminating material found or seized during the course of search/survey. And also that the assessee had already recorded the same in its regular books of accounts which has resulted in latter disallowance. We thus quote CIT Vs. Kabul Chawla [2015 (9) TMI 80 - DELHI HIGH COURT]; CIT Vs. Continental Warehousing Corporation [2015 (5) TMI 656 - BOMBAY HIGH COURT] and CIT Vs. Salasar Stock Broking Ltd. [2016 (8) TMI 1131 - CALCUTTA HIGH COURT] holding that an assessment u/s. 153A framed in absence of any incriminating material found or seized during the course of survey is not valid. We adopt the very reason mutatis mutandis herein to quash the impugned assessment - Decided in favour of assessee.
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