TMI Blog2014 (7) TMI 1133X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the Revenue directed against the order of the CIT(Appeals)-III, New Delhi dated 15/01/2013 on the following grounds: 1. On the facts and in the circumstances of the case, the CIT(A) has erred in deleting addition of ₹ 10,00,000/- made by the AO u/s 68 of the Income Tax Act. 2. On the facts and in the circumstances of the case, the CIT(A) has erred in not following the jurisdictional High Court decision in the case of CIT vs. NR Portfolio Pvt. Ltd. ITA No. 134/2012 dated 21.12.2012, wherein on the similar issue the Court has decided in favour of Revenue. 3. The order of the CIT(A) is erroneous and is not tenable on facts and in law. 2. The Cross Objection is filed by the assessee on the following grounds: 1. That ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the evidences filed in the earlier original proceedings u/s 143(3) which were available with him and secondly in the absence of the fact that no incriminating documents have been found to suggest that the transaction with Hamara Samay TV Network is a doubtful one. 4.1 He held as follows at page 27 para 9.7: 9.7 I find from the evidences available on record that from its side, the appellant company has furnished all the necessary documentary evidence relating to share capital. Firstly in the original proceedings u/s 143(3) and later again in 153A proceedings. Also no incriminating document/evidence is available or new facts have emerged during the search proceedings doubting the creditworthiness or genuineness of transactions, speci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Supreme Court or that of some High Court. As the ld. DR failed to point out any specific and direct judgment rendered by the Hon ble High Court on the issue which is obtaining in the present appeal, we are disinclined to deviate from the Special Bench order in the case of All Cargo (supra). We, therefore, hold in principle that no addition can be made for any assessment year u/s 153A, the assessment for which is not pending on the date of search, unless any incriminating material is found in the course of search. 7. Consistent with a view taken therein, we uphold the contention of the assessee that no addition can be made for this assessment year u/s 153A has no incriminating material was found during the course of search and as no as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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