TMI Blog2015 (9) TMI 1406X X X X Extracts X X X X X X X X Extracts X X X X ..... olding that the additions made in the assessments made pursuant to the search are unsustainable in law. - ITA 634/2015, ITA 493/2015, ITA 578/2013, ITA 579/2013, ITA 580/2013, ITA 581/2013, ITA 582/2013, ITA 583/2013, ITA 584/2013 - - - Dated:- 1-9-2015 - S.MURALIDHAR VIBHU BAKHRU, JJ. for the Appellant: Ms Lakshmi Gurung, Junior Standing Counsel. for the Respondent : Mr Salil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o incriminating document pertaining to the assessee for this assessment year in the seized record found from the residence of the assessee. 4. The third important fact, which is again not in dispute, is that although the statement of the Assessee was recorded during the search, nothing in that statement was found to be incriminating as far as the Assessee was concerned. The AO also considered ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mediately preceding the previous year relevant to the AY in which the search takes place. ii. Assessments and reassessments pending on the date of the search shall abate. The total income for such AYs will have to be computed by the AOs as a fresh exercise. iii. The AO will exercise normal assessment powers in respect of the six years previous to the relevant AY in which the search takes pla ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l. v. In absence of any incriminating material, the completed assessment can be reiterated and the abated assessment or reassessment can be made. The word 'assess' in Section 153 A is relatable to abated proceedings (i.e. those pending on the date of search) and the word 'reassess' to completed assessment proceedings. vi. Insofar as pending assessments are concerned, the jur ..... X X X X Extracts X X X X X X X X Extracts X X X X
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