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2023 (8) TMI 687 - SC ORDERAssessment u/s 153A - addition based on seized material or not? - competency of AO to consider all the material that is available on record - HELD THAT:- As submitted by the learned counsel on both sides that the issue involved in this appeal is squarely covered by the decision of this Court Abhisar Buildwell P. Ltd.[2023 (4) TMI 1056 - SUPREME COURT] In the light of the dictum laid down thereunder and in view of the indisputable fact that during the search no incriminating material was found, this appeal must fail. Consequently, it is dismissed. In view of the decision in Abhisar’s case (supra), completed/unabated assessments could be re-opened by the AO in exercise of powers under Sections 147/148 of the Income Tax Act subject to fulfilment of the conditions envisaged under Sections 147/148 of the Income Tax Act and hence, such powers are saved in terms of the said judgment. Appeal dismissed.
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