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2015 (8) TMI 1266 - ITAT CHENNAI

2015 (8) TMI 1266 - ITAT CHENNAI - TMI - Assessment u/s 153C - suppression of sales - Held that:- In the case before us, no material was found to indicate that the assessee either suppressed the sales or inflated the expenditure during the course of search operation. Only on the basis of statement recorded from the partner of the assessee-firm on the basis of the books of account, the addition was made. Therefore, this Tribunal is of the considered opinion that in the absence of any material to .....

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income was filed u/s 139. The return was filed only consequent to the notice issued u/s 153C of the Act. Therefore, this Tribunal is of the considered opinion that even though there was no search material and the proceedings were not pending on the basis of the return filed, the Assessing Officer has to pass a composite order for the undisclosed income and the normal income. In other words, one order has to be passed for the block period computing the taxable income including the undisclosed in .....

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assessee-firm, has rightly confirmed the addition. This Tribunal do not find any infirmity in the order of the CIT(A) for the assessment year 2011-12. Accordingly, the same is confirmed. - I.T.A.No.781/Mds/2015, I.T.A.Nos.776, 782 & 783/Mds/2015 - Dated:- 6-8-2015 - SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER Appellant by : Shri S. Sridhar, advocate Respondent by : Dr. B. Nischal, JCIT ORDER PER N.R.S.GANESAN, JUDICIAL MEMBER These appeals of two indepen .....

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he ld. Counsel, no material was found and seized. However, on the basis of the statement recorded during the course of search operation from one of the partners of the assessee-firm, the addition was made. According to the ld. Counsel, in the absence of any material found during the course of search operation, there cannot be any addition u/s 153C of the Act. 3. On the contrary, Dr. B. Nischal, ld. Departmental Representative submitted that initially a survey was conducted u/s 133A of the Act on .....

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re in the habit of inflating the weaving charges and staff salary to the extent of 20% and calendaring and washing charges to the extent of 10%. Accordingly, the Assessing Officer disallowed 20% of the weaving charges and staff salary and 10% of calendaring and washing charges. Therefore, according to the ld. Counsel, it cannot be said that there was no material found during the course of search operation. 4. We have considered the rival submissions on either side and also perused the material a .....

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o have filed its return of income in the regular course on 20.10.2006. Similarly, for the assessment year 2007-08, the return of income was filed on 31.10.2007. For the assessment year 2011-12, the return of income was filed on 28.6.2012. The time limit for issuing notice u/s 143(2) expired for the assessment year 2006-07 on 30.7.2007. For the assessment year 2007-08, the time limit for issuing notice u/s 143(2) expired on 30.9.2008. Admittedly, the search was conducted on 28.12.2010. Therefore, .....

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al found during the course of search operation. In the case before us, no material was found to indicate that the assessee either suppressed the sales or inflated the expenditure during the course of search operation. Only on the basis of statement recorded from the partner of the assessee-firm on the basis of the books of account, the addition was made. Therefore, this Tribunal is of the considered opinion that in the absence of any material to indicate the inflation of expenditure, there canno .....

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