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2021 (12) TMI 500 - ITAT DELHIAssessment u/s 153A - Unexplained investment - HELD THAT:- No evidence for any other investment was found during the course of search. The revenue officers also did not make any inventory at the time of search for any such renovation, etc. Nothing is mentioned in the orders of the authorities below in this regard. Thus, no reliance can be placed on the said statement which is not corroborated with any incriminating material found at the time of search. Thus in view of decision of Hon’ble Jurisdictional High Court in the case of CIT vs Harjeev Aggarwal [2016 (3) TMI 329 - DELHI HIGH COURT]. Such statement cannot be taken adversely. Once it is admitted that no incriminating material was found in respect of the same, then no addition can be made. Here, the original return of income was filed on 15/10/2010 and the search took place on 17/01/2014 and therefore, it is a case of completed assessment and not abated and no adverse material or facts are on record. Therefore, relying on CIT vs Kabul Chawla [2015 (9) TMI 80 - DELHI HIGH COURT] and CIT vs Harjeev Aggarwal [2016 (3) TMI 329 - DELHI HIGH COURT] we hold that no addition is warranted and should be deleted. Addition for l/5th share of the assessee in a godown - CIT(A) made this addition, though not made by the Assessing Officer, by picking up the above figure only from the audited balance sheet of the assessee as above and from nowhere else. Thus, since the above investment is duly disclosed in the regular books of account, no adverse cognizance is permitted. Accordingly, the additions which has been made by the Assessing Officer and ld. CIT(A) are beyond the scope of Section 153A as per law and principle laid down by the Hon’ble Delhi High Court cited supra wherein it has been held that in the case where assessment has attained finality and not abated in term of 2nd proviso to Section 153A the addition cannot be made without there being any incriminating documents found during the course of search. Here, in this case, as noted above there is no such incriminating document found during the course of search albeit the addition has been made on the basis of disclosures made in the regular balance-sheet and bank accounts. Therefore, the additions made are deleted and to that extent the order of the AO and ld. CIT(A) is bad in law. Appeal of the Assessee is allowed.
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