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2017 (11) TMI 1218 - AT - Income TaxAssessment u/s 153A - proof of incriminating material found in search - Held that:- The financial year in which the return is furnished would end on 31st March, 2012. Therefore, no notice under section 143(2) could be served on the assessee after the expiry of six months from the end of the financial year in which the return is furnished. In this case, such date would expire on 30th September, 2012. Therefore, on the date of search on 23.11.2012 no assessment was pending against the assessee and assessment had already completed under the Act. Since no incriminating material was found or recovered during the course of search so as to make addition of share application money therefore, the issue is covered in favour of the assessee by the judgment of the jurisdictional High Court in the case of Kabul Chawla (2015 (9) TMI 80 - DELHI HIGH COURT) and Meeta Gutgutia (2017 (5) TMI 1224 - DELHI HIGH COURT ). Therefore, the invocation of Section 153A by the A.O. for assessment year under appeal was without any legal basis as there was no incriminating material found in respect of assessment year under appeal. - Decided in favour of assessee.
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