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2022 (7) TMI 327 - AT - Income TaxValidity of assessment u/s 153C r.w.s. 153A - search and seizure operation u/s.132 of the Act was carried out on 21.06.2011 at the business and residential premises of the Platinum Group of cases to which the Assessee also belongs - HELD THAT:- We noted that only the document seized relates to the Assessment Year 2011 – 2012 that is the ‘sale deed’ - Apart from this, there is no incriminating material or seized material found by the Department during the course of search at the business and residential premises of the Assessee. We are of the view that once there is no incriminating material found during the course of search, then the Assessing Officer cannot exercise any power u/s.153C r.w.s.153A of the Act because the power u/s.153A being not accepted, to be exercised redundantly, but the same should be exercised if the search reveals any incriminating material. Hon’ble Bombay High Court in the case of Commissioner of Income Tax Vs. Continental Warehousing Corporation (Nhava Sheva) Limited [2015 (5) TMI 656 - BOMBAY HIGH COURT] has laid the same proposition. Further, we are of the view that the assessment has to be made u/s.153A of the Act only on the basis of the seized material. This view is also found by the Hon’ble Delhi High Court in the case of the Commissioner of Income Tax Vs. Kabul Chawla [2015 (9) TMI 80 - DELHI HIGH COURT] - Decided in favour of assessee.
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