TMI Blog2015 (12) TMI 1523X X X X Extracts X X X X X X X X Extracts X X X X ..... t is that the assessment order will in any event have to remain quashed. - Decided in favour of assessee. - ITA No. 910 to 913/2015 - - - Dated:- 7-12-2015 - S. Muralidhar Vibhu Bakhru, JJ. For the Appellant Rep by: Mr. Kamal Sawhney, Senior standing counsel with Mr. Raghvendra Singh, Junior standing counsel, Mr. Sharad Agarwal and Mr. Shikhar Garg, Advs. For the Respondent Rep by: Mr. Pranjal Srivasatav, Adv. JUDGEMENT CM APPL No. 29056/015 (for exemptions) in ITA 910/2015 CM APPL No. 29058/015 (for exemptions) in ITA 911/2015 CM APPL No. 29060/015 (for exemptions) in ITA 912/2015 CM APPL No. 29062/015 (for exemptions) in ITA 913/2015 1. Exemptions allowed subject to all just exceptions. 2. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee filed a return declaring an income of ₹ 9,89,76,180. Thereafter, notices under Sections 143 (2) and 142 (1) along with detailed questionnaire were issued. An addition of ₹ 35,63,593 was made by the Assessing Officer ('AO') under provisions of Section 14A read with Rule 8D. 8. On appeal, the Commissioner of Income Tax (Appeals) ['CIT (A)'] negatived the contention sought to be urged by the Assessee that the notice under Section 153A of the Act was invalid. However, the CIT (A) granted a partial relief as regards the disallowance under Section 14A of the Act and restricted the disallowance to 1.06% of the gross income. 9. The Assessee then appealed to the ITAT which has, in the impugned order dated 11 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ave erred in holding that the issuance of notice under Section 153A (1) (a) of the Act was invalid, it is not in dispute that qua the Respondent Assessee no incriminating material was found during the search so as to justify the addition made in the assessment order passed pursuant to the issuance of such notice. As held in several decisions including Kabul Chawla (supra), no assessment can be framed in terms of the Section 153A of the Act in the absence of the any incriminating material found during the search. Consequently, the net result is that the assessment order will in any event have to remain quashed. 13. In that view of the matter, except to the extent clarified in para 11 above concerning the validity of the notice issued unde ..... X X X X Extracts X X X X X X X X Extracts X X X X
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