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2018 (10) TMI 432 - AT - Income TaxReopening of assessment - action u/s. 153A - Held that:- In the absence of any incriminating material, returned income was accepted vide assessment order u/s. 153A dtd. 29/12/2010. But because of the search in case of Mr. Modi and Annexure -1 found therein, the addition was made in the present case. The entire basis for making the additions to the assessable income of the Assessee was a single document i.e., Annexure A-1. The attempt at making additions on the basis of Annexure A-1, without any further investigation on the above lines, is bound to be rendered unsustainable in law. In the present case, no reason was assigned by the Assessing Officer or any fresh material was taken into account by the Assessing Officer for reopening the assessment u/s 147. The said action of the Revenue was challenged before the Hon’ble High Court and the Hon’ble High Court has given a finding of dismissing the appeal of the Revenue therein. The finding of the Hon’ble High Court is applicable in the present case and therefore, the action u/s 147 itself is not maintainable and is quashed. Thus, appeal of the Revenue is dismissed and cross objection of the assessee is allowed.
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