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2021 (8) TMI 428 - AT - Income TaxAssessment u/s 153A - undisclosed income and undisclosed assets - Addition u/s 68 - HELD THAT:- We find ourselves in agreement with the above contention. Even revenue acknowledged this in the ground of appeal, wherein it is submitted this department has not accepted the order of CONTINENTAL WAREHOUSING CORPORATION (NHAVA SHEVA) LTD., ALL CARGO GLOBAL LOGISTICS LTD. [2015 (5) TMI 656 - BOMBAY HIGH COURT] and appeal has been preferred to Hon’ble Supreme Court. We do not find this any reason to interfere with order of Ld.CIT(A) on this issue. Hence, we hold that Ld.CIT(A) is correct in holding that assumption of jurisdiction u/s 153A is bad in absence of any incriminating material found in search, as this is not a non abated assessment. As regards the merits, we find that since the issue on jurisdiction has been decided in favour of assessee, adjudication on merits is order only of academic interest. Hence, we are not engaging in the same. Revenue appeal is dismissed.
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