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2021 (9) TMI 699 - AT - Income TaxReopening of assessment - assumption of jurisdiction u/s 147 - reliance on document seized during search - As per AO seized documents belonging to group companies were found during the course of search which indicated payment of interest in cash outside the books of accounts in respect of purchase of land as well indicated additional payment made in cash for the purchase of land - HELD THAT:- As it is the assessee contention that there was no seized documents which were referred to in the assessment order which could the said to be belonging to the assessee. DR has also failed to bring to anything on record to establish that any seized documents were found during the course of search belonging to the assessee. There is a clear finding recorded by the Ld. CIT(A) in the impugned order that none of the seized documents belonged to the assessee. DR was unable to controvert this categorical finding recorded by the Ld. CIT(A). Thus, undisputedly, in the present case, no documents belonging to the assessee were found during the course of search. In the case of group companies [2021 (1) TMI 737 - ITAT DELHI] on identical reasons recorded and on identical facts and after duly considering the Rules of consistency and in absence of any material, documents, evidence or statement which could implicate the assessee, it is our considered view that the impugned assessment could not have been reopened. Therefore, we hold that the action taken by the Assessing Officer for reopening of the assessment u/s 147 of the Act is not sustainable and the same is hereby quashed as being based on seized documents of other assessees and being entirely based on presumption and assumptions and incorrect interpretation of law. Accordingly, we set aside the re-assessment. - Decided in favour of assessee.
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