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Commissioner of Income Tax- (Central) -I Versus Jakson Engineers Ltd

2015 (12) TMI 1523 - DELHI HIGH COURT

Assessment u/s 153A - Held that:- Although the ITAT may have 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 (2015 (9) TMI 80 - DELHI HIGH COURT ), no assessment can be framed in terms .....

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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. The applications are disposed of. CM APPLs 29057/2015 (for delay in re-filing appeal) in ITA 910/2015 CM APPLs 29059/2015 (for delay in re-filing appeal) in ITA 911/ .....

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are directed against the impugned order dated 11th April 2014 passed by the Income Tax Appellate Tribunal ('ITAT') in the ITA Nos. 660/Del/2014, 661/Del/2014, 350/Del/2013 and 352/Del/2013 for the Assessment Years ('AYs') 2006-07, 2007-08, 2007-08 and 2006-07 respectively. 7. The facts in brief are that search and seizure operations were conducted on 10th February 2010 in the premises of the Jakson group of companies headed by Mr. S.K. Gupta. The Jakson group was manufacturing an .....

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93 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 I .....

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