Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2024 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2024 (3) TMI 708 - ITAT AMRITSARAssessment u/s 153A - Addition u/s 69A on Investment in FDR and difference in credits received in bank accounts but not considered in the ITR - Whether CIT(A) has erred in confirming the addition without bringing on record any incriminating material found during the course of search? - HELD THAT:- As undisputed facts from the record, that nothing incriminating material was found during the course of search and that the additions made by AO were not based on any incriminating materials/paper seized during search operation in respect of the assessment year 2013-14 and 2014-15. It is seen that the whole additions have been made on the basis of bank statement submitted in response to questionnaire issued by the AO. In our view, it is settled law that no addition can be made u/s 153A otherwise than on the basis of incriminating document. In view of the judgement of Abhisar Buildwell Pvt Ltd. (2023 (4) TMI 1056 - SUPREME COURT] in absence of incriminating material, AO would not assume the jurisdiction to assess or reassess total income of the appellant in the present case. As such, the additions made by the AO and sustained by the Ld. CIT(A) are liable to be deleted. Thus, ground of assessee is allowed. Assessment u/s 153A or 153C - addition has been made on the basis of material seized during search conducted on a person other than the assessee (i.e., an independent search warrant was issued) - AY 2018-19 - HELD THAT:- It is admitted facts on record that in the present case, the assessment proceedings were imitated and completed u/s 153A of the Act, based on material seized during search conducted on a person other than the assessee. In the present case, in our view, the assessment proceedings could only be initiated u/s 153C and not 153A of the act, and that to only after satisfaction was so arrived in the case of proceedings of M/S Golden Tulip Hospitality Pvt. that the material found and seized during search were being pertains to the appellant. Thus, the CIT (A) has failed to appreciate the fact that the searched premises from where the ledger was found does not belong to the assessee, and therefore, the assessment order passed by the AO u/s 153A is liable to be held without jurisdiction.
|