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2022 (11) TMI 768 - AT - Income TaxValidity of assessment u/s 153C r.w. Section 143(3) - Change of head of income from business income to income from other sources pursuant to search - HELD THAT:- As in this case the Assessing Officer pursuant to search and seizure has only changed the head of income from business income to income from other sources. In doing so, he has not referred to any incriminating material found during the search. In this view of the matter, the Ld. CIT(A) is correct that addition is not sustainable It is an undisputed fact that in the present case the Assessing Officer has only changed the head of the income from business income to income from other sources and this has not been done by reference to any seized incriminating material. Accordingly there is no infirmity in the order of the Ld. CIT(A). Hence, we uphold the same. Before parting we may refer to the pleading of the Ld. counsel for the assessee that in the case of the assessee the MAT provisions were applicable and in that view of the matter the tax effect is below the limit of CBDT circular for filing appeal before the Tribunal - Appeals of the Revenue stand dismissed.
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