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2022 (3) TMI 305 - AT - Income TaxValidity of Assessment u/s 153C - Proof of incriminating material found in search - HELD THAT:- Nothing belonging to the assessee was found at the time of search at the premises of Abhay Maheshwari. The laptop was found from the premises of Abhay Maheshwari and as per the provisions of section 132 (4A) (i) and 292 C of the Act the presumption is that the document and assets found in the course of search from premises of a person it may be presumed that such item belong to the person whose premises are searched. It can be seen from the satisfaction note there is no reference to any laptop found at the time of search and as mentioned here in above whatever was found at the time of search belonged to Abhay Maheshwari. The Hon'ble High court of Gujarat in the case of Anilkumar Gopikishan Aggarwal [2019 (6) TMI 746 - GUJARAT HIGH COURT] has held that section 153C as amended w.e.f. 01.06.2015 would not be applicable to cases where search is initiated prior to the date. In the present case since the search was conducted on 27.11.2014 the un-amended provision as mentioned elsewhere would apply. A bare perusal of the assessment order would show that there is no reference to any incriminating material for the addition made by the AO, therefore, the ratio laid down by the Hon'ble Supreme Court in the case of Singhad Technical Education Society (supra) squarely apply.
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