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2016 (2) TMI 797 - KARNATAKA HIGH COURT

2016 (2) TMI 797 - KARNATAKA HIGH COURT - TMI - Assessment reopened on the basis of search - accounts in Tally copied and seized at the time of search - addition to income - Held that:- If assessment is allowed to be reopened on the basis of search, in which no incriminating material had been found, and merely on the basis of further investigating the books of account which had been already submitted by the assessee and accepted by the Assessing Officer at the time of regular assessment, the sam .....

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tted by the assessee, on the basis of which assessment had been concluded, cannot be reappreciated by the Assessing Officer merely because a search had been conducted in the premises of the assessee. - Decided in favour of assessee - ITA NO.528/2014, C/W ITA NOs.529/2014, 530/2014, 531/2014 - Dated:- 15-12-2015 - MR. VINEET SARAN AND MRS. S.SUJATHA, JJ. FOR THE APPELLANT : SRI JEEVAN J.NEERALGI, ADV., JUDGMENT The present appeals filed by the Revenue pertain to the assessment years 2005-06, 2006 .....

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y the assessee and found at the time of search were different from the ones which were submitted by the assessee at the time of regular assessment, inasmuch as the same did not tally with the corresponding accounts of the creditors and debtors, and thus, on such ground, notices were issued to the assessee. 2. The Assessing Officer made certain additions after holding that the accounts of the assessee did not tally with the corresponding accounts of the creditors and debtors. Challenging the same .....

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ng the same, these appeals are filed. The questions of law, as raised in leading appeal bearing ITA No. 528/2014, which are to be considered by us, are as under: "i. Whether accounts in Tally copied and seized at the time of search do not come within the purview of 'material found during the course of search' as per the ratio of the decision of the special Bench of the Bangalore Tribunal in the case of All Cargo Global Logistics Ltd. v. CIT 18 ITR (Trib.) 106. ii. Whether the Hon .....

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e Commissioner, that there were no incriminating documents found during the course of search, on the basis of which the additions have been made by the Assessing Officer and that the accounts which were submitted by the assessee at the time of regular assessment were duly verified during the course of such assessment and accepted by the Assessing Officer and in the absence of any incriminating documents having been found, the same accounts of the assessee were reassessed by making further invest .....

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