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2018 (12) TMI 826 - AT - Income TaxInitiation of proceedings u/s 153A - addition u/s 68 - Held that:- In assessee’s case under consideration, on the date of search, no assessment for these three years (that is, assessment years 200910, 201011 and 201112) were pending. The issue of share capital was before the AO during the original assessment proceedings and in original assessment proceedings under section 143(3)/143(1), the assessing officer examined the issue relating to share capital/share premium. Assessment u/s 153A was made by assessing officer after search and no any incriminating documents/papers seized during the search operation, therefore, without incriminating material the addition should not be made. Therefore, keeping in view the ratio decided by the Hon’ble Delhi High Court in the case of Kabul Chawla [2015 (9) TMI 80 - DELHI HIGH COURT] since there is no incriminating material unearthed during search in respect of the concluded assessments, no addition/disallowance could be made by the AO for AYs 2009-10, 2010-11, 2011-12 - Decided in favour of assessee.
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