TMI Blog2016 (4) TMI 701X X X X Extracts X X X X X X X X Extracts X X X X ..... impugned addition have been rendered infructuous. - Decided in favour of assessee. - IT(SS)A Nos. 525, 533 to 537 /Ahd/2011 - - - Dated:- 26-2-2016 - Shri N.K. Billaiya, Accountant Member and Shri S. S. Godara, Judicial Member For The Revenue : Smt. Usha Shrote, Sr. D.R. For The Assessee : Shri Tushar Hemani, A.R. ORDER PER : S. S. GODARA, JUDICIAL MEMBER:- This batch of assessee s six appeals for assessment years 2003-04 to 2008-09, arises from separate orders of the CIT(A)-I, Ahmedabad, all dated 08-07-2011, in appeal nos. CIT(A)- I/CC.1(2)/346, 347, 348, 349, 350, and 351/2010-11, upholding Assessing Officer s action making deemed annual letting value additions u/s. 22 in income from house property amounting ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tuned. The Assessing Officer took up security. He noticed from assessee s return that the assessee owned four house properties. The Assessing Officer went on to calculate their deemed letting value coming to ₹ 1,31,520/- qua three out of four of the above stated properties. He granted standard deduction @ 30% u/s. 24(a) to arrive at the impugned net figure of ₹ 92,064/-. 4. The assessee preferred appeal on legality of the impugned section 153C proceedings as well as contested the above stated addition on merits. The CIT(A) rejects both these substantive grounds leaving the assessee aggrieved. 5. We have heard both the parties. The assessee invites our attention to the factual position narrated in the preceding paragraphs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... found in the course of the search, or other post-search material or information available with the AO which can be related to the evidence found, it does not mean that the assessment can be arbitrary or made without any relevance or nexus with the seized material. Obviously an assessment has to be made under this Section only on the basis of seized material. 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 con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 32 of the Act. We reiterate that the Assessing Officer has invoked section 153C of the Act applicable in case the search leads to any money bullion, jewellery etc. found to be belonging to a person other than that searched. We proceed further and find that section 153C(1) makes it clear that an Assessing Officer assesses or reassesses income of such a searched person in the manner and accordance with the corresponding provision u/s. 153A of the Act. This provision in its Explanation and clauses (i) and (ii) stipulates that subject to specific provision in section 153A, 153B and 153C, all other provisions of the Act apply. We stop here and deem it appropriate to observe that this clause (i) envisages that an assessment framed u/s. 153A invol ..... X X X X Extracts X X X X X X X X Extracts X X X X
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