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2021 (7) TMI 527 - HC - Income TaxEntitlement to raise a fresh claim during the assessment proceedings u/s 153A pursuant to search action u/s 132 - whether the Tribunal was justified in confirming the decision of commissioner of Income-tax (Appeals) order and thereby upholding the disallowance under section 14A of the Act? - HELD THAT:- The Tribunal, by placing reliance on the decision of JAI STEELS, [2013 (6) TMI 161 - RAJASTHAN HIGH COURT] has held that the assessment or re-assessment made in pursuance to Section 153A of the Act, is not a de novo assessment and therefore, it was not open to the assessee to claim and be allowed such deduction or allowance of expenditure which it had not claimed in the original assessment proceedings which in the case of the assessee stood completed vide order dated 15.01.2009 passed under Section 143(1) of the Act. The Tribunal, in our opinion, has followed the decision of Rajasthan High Court and we confer the view taken by Rajasthan High Court in JAI STEELS, supra. For the aforementioned reasons, the substantial questions of law are answered against the assessee and in favour of the revenue.
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