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2022 (4) TMI 586 - AT - Income TaxAssessment u/s. 153A - Whether assessment pertaining to AY 2014-15 was abated as per section 153A? - HELD THAT:- It is noted that only on the basis of retracted statements, the AO has made the addition. From a perusal of the assessment order, it is noted that there is no other incriminating material seized during search. Other than the retracted bald statement of assessee’s father addition has been made by AO [which has been retracted within few days wherein assessee’s father/assessee has alleged coercion/duress of obtaining it. It is noted that other than the statement of his father which has been obtained under threat/coercion/duress [ which has been retracted within few days] the AO has made the addition as undisclosed income the assessee’s LTCG - However we find that other than the retracted statement there was no iota of evidence/material to substantiate the impugned additions. CIT(A) has given a finding of fact that other than the assessee’s father’s statement regarding the LTCG of assessee, there was no incriminating material found during search qua the assessee qua the AY 2014-15. In such a scenario, no addition was legally sustainable as held by the Hon’ble Delhi High court in Kabul Chawla [2015 (9) TMI 80 - DELHI HIGH COURT] Thus unless there is incriminating material qua each of the A Y s in which additions are sought to be made, pursuant to search and seizure operation, the assumption of jurisdiction under Section 153A of the Act would be vitiated in law for an unabated assessment. - Decided in favour of assessee.
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