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2023 (2) TMI 845 - AT - Income TaxProtective assessment/addition - No substantive assessment/addition in the hands of other assessee - Assessment under section 153A(1)(b) r.w.s 143(3) - Order passed by Settlement Commission u/s 245D(4) - HELD THAT:- As in the instant case, at the time of passing of the assessment order where the protective addition was made in the case of the assessee, no substantive additions were made in the hands of M/s Bhushan Power & Steel Ltd and thus, no substantive additions were in existence. Even in the order so passed by the Settlement Commission u/s 245D(4) subsequent to passing of the impugned assessment order), no substantive additions were made in the hands of M/s Bhushan Power & Steel Ltd. It is therefore a case where no substantive additions have been made in hands of M/s Bhushan Power & Steel Ltd and at the same time, only protective assessment has been made in the hands of the assessee. In light of aforesaid legal proposition and respectfully following the decisions cited supra, in absence of substantive addition made in hands of M/s Bhushan Power & Steel Ltd or any other person, protective addition cannot be sustained in the hands of the assessee. Accordingly, the protective addition so made by the AO and confirmed by the ld CIT(A) is hereby directed to be deleted. The enhancement done by the ld CIT(A) by an amount under section 69C of the Act, the same being consequential in nature is also directed to be deleted. Appeal of assessee allowed.
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