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2022 (1) TMI 426 - AT - Income TaxAssessment u/s 153A - Incriminating material found in search or not? - documents of relevant assessment year - CIT-A deleted the addition - HELD THAT:- List of transfer of shares, which according to the ld. DR. is an incriminating material and which is exhibited at page 9 of the paper book title of which reads as “List of Transfer of Shares since 10.04.2010 till 31.03.2011”. This nomenclature itself shows that the so-called incriminating material relates to F.Y. 2010-11 relevant to Assessment Year 2011-12 whereas the appeal before us is for Assessment Year 2010-11. Therefore, we do not find any merit in the submissions of the ld. DR. Coming to the facts of the case, we find that there is no reference of any incriminating evidence found at the time of search which makes the ratio laid down in the case of Kabul Chawla [2015 (9) TMI 80 - DELHI HIGH COURT] and Meeta Gutgutia [2017 (5) TMI 1224 - DELHI HIGH COURT] squarely apply. Since the addition made by the Assessing Officer is not based on any incriminating material found as a result of search on the assessee we do not find any error or infirmity in the findings of the ld. CIT(A). - Decided in favour of assessee.
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