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2022 (2) TMI 874 - AT - Income TaxAssessment u/s 153A - proof of incriminating material found in search - HELD THAT:- Once the requisite time limit for issuance of scrutiny notice u/s.143(2) of the Act had expired, the assessee would be justified in entertaining a honest belief that assessment for the concerned assessment year had been completed by the Assessing Officer. Infact in the case of Kabul Chawla 2015 (9) TMI 80 - DELHI HIGH COURT had elaborately dealt this aspect of assessment getting completed u/s.143(1) of the Act and concluded that even for such assessment, no addition could be framed in 153A proceedings unless there is incriminating material found during the course of search relatable to such assessment year. The said decision also covers all the decisions relied upon by the ld. DR before us. Special Leave Petition (SLP) preferred by the Revenue before the Hon’ble Supreme Court against the decision of the Hon’ble Delhi High Court in the case of Kabul Chawlahad been dismissed by the Hon’ble Apex Court - Though SLP has been granted by the Hon’ble Apex Court in some of the cases referred to supra on the impugned issue of existence of incriminating material found during search for framing addition in respect of unabated assessment we find that as on date, the issue is squarely covered in favour of the assessee in Continental warehousing corporation. - Decided in favour of assessee.
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