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2021 (8) TMI 31 - AT - Income TaxAssessment u/s 153A - Disallowance of interest paid in a search proceeding - HELD THAT:- CIT(A) in the earlier year on the identical facts and deleted the additions made by the Ld. AO in the unabated assessment since the same were not made on the basis of any incriminating material found during the course of search relying upon the principle laid down by the Jurisdictional High Court in the case of PCIT -Vs- Saumya Construction Pvt. Ltd., [2016 (7) TMI 911 - GUJARAT HIGH COURT], the judgments passed in the matter of CIT -vs- Kabul Chawla, [2015 (9) TMI 80 - DELHI HIGH COURT] and CIT -vs- Continental Warehousing Corporation Ltd [2015 (5) TMI 656 - BOMBAY HIGH COURT] The addition in the appeal in hand indeed has been made on the basis of the books of accounts and the details furnished to the Ld. AO and not on the basis of any incriminating material found during the course of search. Hence, respectively relying upon the judgment passed by the different judicial forums we delete the addition made under Section 143(3) r.w.s 153A of the Act. The appeal preferred by the assessee is, thus, allowed.
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