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2021 (10) TMI 507 - AT - Income TaxAssessment u/s 153A - Whether no incriminating material was found in the premises of the assessee during the search action relating to the aforesaid share capital/share premium received by the assessee? - HELD THAT:- Admittedly, the original assessment in this case was already completed and not abated as on the date of search. It is also an admitted fact that no incriminating material was found in the premises of the assessee during the search action relating to the aforesaid share capital/share premium received by the assessee. Now, the Ld. CIT(A) while deleting the addition in respect of the three parties has relied upon the decision of the Hon’ble Delhi High Court in the case of CIT vs Kabul Chawla [2015 (9) TMI 80 - DELHI HIGH COURT] wherein, it has been held that in case of completed assessment, no addition can be made in the absence of any incriminating material. We do not find any infirmity in the order of the Ld. CIT(A) in this respect. Since, the words “and such other materials or information as are available with the Assessing Officer and relatable to such evidence” do not find mention under the provisions of section 153A of the Act and further it has been held time and again by the various High Court that addition can be made in case of completed assessment as on the date of search only on the basis of incriminating material found during the search action, hence, in our view, the action of the Ld. CIT(A) in confirming the addition on the basis of sole statement of one dummy director, recorded during the survey action in case of that company, without confronting the same to the assessee, cannot be held to be justified. The impugned addition is, therefore, ordered to be deleted. In view of the above discussion, the appeal of the Revenue is hereby dismissed, whereas the appeal of the assessee is allowed.
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