Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (5) TMI 890 - AT - Income TaxAssessment u/s 153A - incriminating material found in search - HELD THAT:- As in the original assessment, the additions were made by the AO on this issue and the appeal on the issue is already pending before the Hon’ble High Court, as noted above. So in the fresh assessment proceedings carried out u/s 153A of the Act, since there is no reference of any incriminating material relating to the aforesaid issue, therefore, this issue in the light of the settled law cannot be read-judicated in the second appeal before this Tribunal, especially when this issue has already been considered and adjudicated in the first appeal and the matter is pending before the Hon’ble High Court. Whatever, the findings will be given by the Hon’ble High Court that will apply to the case of the assessee for the assessment year under consideration. There cannot be allowed two parallel proceedings running, one in the High Court and the other Tribunal on the same issue and relating to the same assessment year. This appeal of the Revenue, in view of this, is hereby dismissed subject to our observation that the finding arrived at in appeal before the High Court on this issue will accordingly apply to the case of the assessee for the assessment year under consideration. Allocation of the expenditure relating to the R&D unit to the other units which are exempt u/s 80IC - HELD THAT:- The issue is clearly covered in favour of the assessee in the own case of the assessee for the earlier assessment year, wherein, the Tribunal, after considering the relevant facts, has held that the expenditure incurred in research and development activity at R&D Unit cannot be allocated to the other manufacturing units. No distinguishing facts have been brought on record. In view of this, respectfully following the order of the Tribunal for earlier assessment year in the own case of the assessee, this issue is accordingly decided in favour of the assessee. No other ground or issue raised or argued. The appeal filed by the assessee is accordingly stands allowed.
|