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2023 (6) TMI 1214 - AT - Income TaxAssessment u/s 153A - belated filing of returns - statutory time limit provided for filing the returns of income in response to notice under section 153A - HELD THAT:- When a search is initiated, the assessee is not required to file his return till such time he receives notice u/s 153A of the Act. Once such notice is received, the liability fastens on the assessee to file the return within the reasonable time specified in the relevant notice. As the revised return filed by the assessee for the assessment years 2011-12 to 2016-17 are invalid returns and have to be declared non-est, for the reason that these are nothing but revising of belated returns filed on 13.06.2018. Hence, the entire additional incomes offered by the assessee in the revised returns filed on 13.12.2018 for assessment years 2011-12 to 2016-17 cannot be taxed at all in the relevant assessment years as it had been offered in the invalid and non-est revised return. Addition made towards unsecured loans u/s 68 and consequential disallowance of interest on such loans - Admittedly, there is absolutely no incriminating material found during the course of search for assessment years 2011-12 to 2015-16 in respect of making addition made towards unsecured loans under section 68 of the Act and consequential disallowance of interest on such loans. Hence, the earlier assessment years for assessment years 2011-12 to 2015-16 cannot be disturbed at all by learned AO while framing the search assessments under section 153A of the Act. This issue is no longer res integra in view of the recent decision of the Hon’ble Supreme Court in case of PCIT Vs. Abhisar Buildwell Pvt. Ltd [2023 (4) TMI 1056 - SUPREME COURT] wherein the decision of Kabul Chawla [2015 (9) TMI 80 - DELHI HIGH COURT] has been upheld by the Hon’ble Apex Court. Hence, in view of the same, all the additions made by learned AO in the search assessments for assessment years 2011- 12 to 2015-16 are hereby directed to be deleted. In view of our earlier observations made that the revised returns filed by the assessee for the assessment years 2011-12 to 2015-16 on 13.12.2018 are invalid and non-est, the income to be determined for assessment years 2011-12 to 2015-16.
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