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2022 (4) TMI 231 - AT - Income TaxAssessment u/s 153C - Addition u/s.68 on account of loans received - proof of incriminating materials/documents “belonging” to the assessee - HELD THAT:- As in the case of the assessee before us no incriminating materials/documents “belonging” to the assessee were found during the course of search conducted on 23.02.2006 at the premises of Shri. Ramesh Kedia and others, therefore, the Assessing Officer had wrongly assumed jurisdiction and framed assessment in the hands of the assessee u/s.143(3) r.w.s 153C. We are unable to uphold the assessment framed by the Assessing Officer u/s.143(3) r.w.s.153C of the Act for want of jurisdiction on his part. We, thus, quash the assessment for want of jurisdiction on the part of the Assessing Officer. - Decided in favour of assessee.
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