GST Helpdesk   Subscription   Demo   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2016 (7) TMI 911 - GUJARAT HIGH COURT

2016 (7) TMI 911 - GUJARAT HIGH COURT - [2016] 387 ITR 529 - Addition u/s 153A - Held that:- Under section 153A of the Act, an assessment has to be made in relation to the search or requisition, namely, in relation to material disclosed during the search or requisition. If in relation to any assessment year, no incriminating material is found, no addition or disallowance can be made in relation to that assessment year in exercise of powers under section 153A of the Act and the earlier assessment .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

; however, there must be some incriminating material available with the Assessing Officer with respect to the sale transactions in the particular assessment year. - Decided in favour of assessee. - Tax Appeal No. 24 of 2016 - Dated:- 14-3-2016 - Harsha Devani And G. R. Udhwani, JJ. For the Appellant Mr Nitin K Mehta, Advocate For the Respondent : Ms SN Soparkar, Sr. Advocate with Mr B S Soparkar, Caveator JUDGMENT ( Per : Honourable Ms. Justice Harsha Devani ) 1. The appellant - revenue in this .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

olding that the addition should be based on the incriminating material found during the course of search under new procedure of assessment u/s 153A which is different from earlier procedure u/s 158BC r.w.s. 158BB of the Act and by reading into the section, the words the incriminating material found during the course of search which are not there in section 153A? [C] Whether the Tribunal erred in relying on the ITAT order in Sanjay Aggarwal Vs. DCIT (2014) 47 Taxmann.Com 210 (Del) which has inter .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Ltd. is engaged in the business of construction and development of properties, trading in fabrics and garments. A search and seizure operation was carried out on 07.10.2009 and an assessment came to be framed under section 143(3) read with section 153A(1)(b) of the Act on 30.12.2011 determining the total income of the respondent assessee at ₹ 14,49,51,130/- against the declared income at ₹ 3,44,00,130/-. During the course of assessment proceedings, it was noticed that the assessee ha .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

in the transaction of land. The Assessing Officer held that the onmoney has been paid by the assessee in the transaction for the purchase of land from Shri Rohit P. Modi and Pareshaben K. Modi and accordingly, added an amount of ₹ 11,05,51,000/- to the total income of the assessee under section 68 of the Act in respect of the unexplained investment for purchase of land. The assessee carried the matter in appeal before the Commissioner (Appeals), who confirmed the addition on the ground tha .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ee and hence, such addition could not be made under section 153A of the Act. 3. Mr. Nitin Mehta, learned senior standing counsel for the appellant, submitted that the Tribunal has grossly erred in holding that addition can be made under section 153A only if incriminating material is found during the course of the search, that too, in relation to each of the six assessment years and that in respect of any assessment year, if no incriminating material is found, addition cannot be made under sectio .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

arch. It was submitted that the Tribunal, while holding that the addition should be based upon the incriminating material, found during the search under the new procedure provided under section 153A, failed to appreciate that the new procedure is different from the earlier procedure under section 158BC read with section 158BB of the Act. 3.1 Reference was made to the decision of the Delhi High Court in the case of Commissioner of Income Tax v. Anil Kumar Bhatia, [2012] 211 Taxman 453, to point o .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ther income. It was submitted that the court has held that the Assessing Officer under section 153A of the Act has been entrusted with the duty of bringing to tax the total income of any assessee whose case is covered by the said provision, by even making reassessments without any fetters, if need be. It was pointed out that the court has also held that the Assessing Officer has the power under section 153A to make assessment for all the six years and compute the total income of the assessee, in .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

n of the Karnataka High Court in the case of Canara Housing Development Company v. Deputy Commissioner of Income Tax, (2015) 274 CTR 0122 (Kar), for the proposition that when once the proceedings are initiated under section 153A of the Act, the legal effect is that even in case where the assessment order is passed, it stands reopened. In the eyes of law, there is no order of assessment. Re-opened means to deal with or begin with again. It means the Assessing Officer shall assess or reassess the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

cing section 153A of the Act is clear, inasmuch as, while section 158BA provided for assessment of only undisclosed income, in contrast, section 153A clearly specifies what is to be taxed is the total income of each of the six preceding assessment years. Thus, there is a clear contrast between the previous and the new regimes. It was submitted that assuming for the sake of argument that additions or disallowances can be made only on the basis of incriminating material found during the search or .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ncriminating material is found, it would enure for all the six assessment years and hence, it cannot be said that there was no incriminating material found during the course of the search. 3.3 It was contended that once section 153A of the Act is invoked, resort to section 147 is prohibited, under the circumstances, the Assessing Officer, thereafter, cannot reopen the assessment under section 147 of the Act. It is in these circumstances that section 153A of the Act envisages assessment of the to .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

there are unfettered powers. 3.4 It was emphatically argued that the requirement of section 153A of the Act is to assess the total income in contradistinction to undisclosed income and hence, the Tribunal was not justified in holding that addition under that provision could be made only if something incriminating is found during the search / requisition. It was, accordingly, urged that the appeal requires consideration on the questions of law as proposed or as may be formulated by the court. 4. .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

at considering section 153A of the Act, the Assessing Officer can reopen and/or assess the return with respect to six preceding years; however, there must be some incriminating material available with the Assessing Officer with respect to the sale transactions in the particular assessment year. It was submitted that the impugned order passed by the Tribunal being in consonance with the view taken by the jurisdictional High Court, does not give rise to any question of law, warranting interference .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

made to the decision of the Rajasthan High Court in the case of Jai Steel (India), Jodhpur v. Assistant Commissioner of Income-tax, [2013] 36 taxmann.com 523 (Rajasthan), wherein the court did not accept the argument of the revenue that the Assessing Officer is free to disturb income, expenditure or deduction de hors the incriminating material, while making assessment under section 153A of the Act as the same is not borne out from the scheme of the said provision which is essentially in the con .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

015] 378 ITR 84 (Bom.) and the decision of the Delhi High Court in Commissioner of Income-tax (Central)-III v. Kabul Chawla, [2015] 61 taxmann.com 412, reference to which shall be made subsequently. 4.2 It was submitted that section 153C of the Act does not lay down any different procedure than that provided under section 153A of the Act and that Tax Appeal No.914 of 2012 covers both sections 153A and 153C and is directly on the issue. It was submitted that the law in this regard is very well se .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

case of Commissioner of Income Tax v. Anil Kumar Bhatia (supra), wherein the court held thus : 18. A perusal of Section 153A shows that it starts with a non obstante clause relating to normal assessment procedure which is covered by sections 139, 147, 148, 149, 151 and 153 in respect of searches made after 31.5.2003. These sections, the applicability of which has been excluded, relate to returns, assessment and reassessment provisions. Prior to, the introduction of these three sections, there w .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

period . Though a single assessment order was to be passed, the undisclosed income was to be assessed in the different assessment years to which it related. But all this had to be made in a single assessment order. The block assessment so made was independent of and in addition to the normal assessment proceedings as clarified by the Explanation below Section 158BA(2). After the introduction of the group of Sections namely, 153A to 153C, the single block assessment concept was given a go-by. Und .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

om the first day of April of the financial year in which the search took place or the requisition was made and ending with the date of search/requisition. Under Section 153A and the new scheme provided for, the AO is required to exercise the normal assessment powers in respect of the previous year in which the search took place. 19. Under the provisions of Section 153A, as we have already noticed, the Assessing Officer is bound to issue notice to the assessee to furnish returns for each assessme .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

dings were preserved, resulting in multiple assessments. Under Section 153A, however, the Assessing Officer has been given the power to assess or reassess the total income of the ‟ six assessment years in question in separate assessment orders. This means that there can be only one assessment order in respect of each of the six assessment years, in which both the disclosed and the undisclosed income would be brought to tax. 20. A question may arise as to how this is sought to be achieved w .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

the Assessing Officer by the strict procedure to assume jurisdiction to reopen the assessment under Sections 147 and 148, have been removed by the non obstante clause with which sub section (1) of Section 153A opens. The time-limit within which the notice under Section 148 can be issued, as provided in Section 149 has also been made inapplicable by the non obstante clause. Section 151 which requires sanction to be obtained by the Assessing Officer by issue of notice to reopen the assessment und .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ow there can be cases where at the time when the search is initiated or requisition is made, the assessment or reassessment proceedings relating to any assessment year falling within the period of the six assessment years mentioned above, may be pending. In such a case, the second proviso to sub section (1) of section 153A says that such proceedings "shall abate". The reason is not far to seek. Under section 153A, there is no room for multiple assessment orders in respect of any of the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

vant to the year in which the search took place there is only one determination of the total income, it has been provided in the second proviso of sub Section (1) of section 153A that any proceedings for assessment or reassessment of the assessee which are pending on the date of initiation of the search or making requisition "shall abate". Once those proceedings abate, the decks are cleared, for the Assessing Officer to pass assessment orders for each of those six years determining the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ould also be included, but in cases where the assessment or reassessment proceedings have already been completed and assessment orders have been passed determining the assessee s total income and such ‟ orders are subsisting at the time when the search or the requisition is made, there is no question of any abatement since no proceedings are pending. In this latter situation, the Assessing Officer will reopen the assessments or reassessments already made (without having the need to follow .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

r proceedings for the simple reason that no proceedings for assessment or reassessment were pending since they had already culminated in assessment or reassessment orders when the search was initiated or the requisition was made. 6. In Filatex India Ltd. v. Commissioner of Income Tax- IV (supra), the Delhi High Court has held thus : 2. On the first question, we note that the Assessing Officer, in the proceedings under Section 153A of the Act, had made several additions, relying upon the incrimin .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

on raised by the appellant-assessee is that the addition, which is the subject matter of questions No.(ii) and (iii),was/is not justified in the assessment order under Section 153A, as no incriminating material was found concerning the addition under Section 115 JB of the Act. The said argument has no substance and has to be rejected. Under Section 153A of the Act, the additions need not be restricted or limited to the incriminating material, which was found during the course of search. There ca .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ur v. Assistant Commissioner of Income Tax (supra), the Rajasthan High Court held thus : 15.A plain reading of the above provision would reveal that if a search or requisition is initiated after 31.05.2003, the AO is under an obligation to issue notice to such person, who has been subjected to search/requisition to furnish the return of income of six years immediately preceding the year of search. The AO is then required to assess or reassess total income of the said six years and, out of the si .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

obstante clause, which removes the restrictions upon the AO from assuming jurisdiction to reopen the assessment under Sections 147, 148 and 151 etc. 17. Prior to introduction of Sections 153A to 153C, Chapter XIVB of the Act took care of the assessments to be made in cases of search and seizure, which were called 'block assessment', whereby, a single assessment was required to be in respect of a period of block of ten years prior to the assessment year, in which, the search was made. Aft .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

nd proviso have to be considered. Further, for answering the above issues, guidance will have to be sought from Section 132(1) of the Act, as Section 153A of the Act cannot be read in isolation, inasmuch as, the same is triggered only on account of any search/requisition under Sections 132 or 132A of the Act. If any books of accounts or other documents relevant to the assessment had not been produced in the course of original assessment and, found in the course of search, such books of accounts .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

n account of such search or requisition, then the question of reassessment of the concluded assessments does not arise, which would require more reiteration and it is only in the context of the abated assessment under second proviso which is required to be assessed. 19. The underline purpose of making assessment of total income under Section 153A of the Act is, therefore, to assess income which was not disclosed or would not have been disclosed. The purpose of second proviso is also very clear, .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e the assessment for the said year. 20. The necessary corollary of the above second proviso is that the assessment or reassessment proceedings, which have already been 'completed' and assessment orders have been passed determining the assessee's total income and, such orders are subsisting at the time when the search or the requisition is made, there is no question of any abatement since no proceedings are pending. In such cases, where the assessments already stands completed, the AO .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ose and purport of the said provision, which is intricately linked with search and requisition under Sections 132 and 132A of the Act, it is apparent that: (a) the assessments or reassessments, which stand abated in terms of II proviso to Section 153A of the Act, the AO acts under his original jurisdiction, for which, assessments have to be made; (b) regarding other cases, the addition to the income that has already been assessed, the assessment will be made on the basis of incriminating materia .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

rtain the total income of the person is required to be done, however, the same would in that case not result in any addition and the assessments passed earlier may have to be reiterated. 8. In Commissioner of Income Tax (Central)-III v. Kabul Chawla, the Delhi High Court after considering its earlier decisions in the case of Commissioner of Income Tax v. Anil Kumar Bhatia (supra), Commissioner of Income Tax v. Chetan Das Lachman Das, (2012) 211 Taxman 61, Filatex India Ltd. v. Commissioner of In .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

mandatorily issued to the person searched requiring him to file returns for six AYs immediately preceding the previous year relevant to the AY in which the search takes place. ii. Assessments and reassessments pending on the date of the search shall abate. The total income for such AYs will have to be computed by the AOs as a fresh exercise. iii. The AO will exercise normal assessment powers in respect of the six years previous to the relevant AY in which the search takes place. The AO has the p .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ormation 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 .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

d with by the AO while making the assessment under Section 153 A only on the basis of some incriminating material unearthed during the course of search or requisition of documents or undisclosed income or property discovered in the course of search which were not produced or not already disclosed or made known in the course of original assessment. 9. Section 153A of the Act reads thus : 153A. Assessment in case of search or requisition.- (1) Notwithstanding anything contained in section 139, sec .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

in clause (b), in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed and the provisions of this Act shall, so far as may be, apply accordingly as if such return were a return required to be furnished under section 139; (b) assess or reassess the total income of six assessment years immediately preceding the assessment year relevant to the previous year in which such search is conducted or requisition is made: Provided that the .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

of assessment or reassessment made under sub-section (1) has been annulled in appeal or any other legal proceeding, then, notwithstanding anything contained in sub-section (1) or section 153, the assessment or reassessment relating to any assessment year which has abated under the second proviso to sub-section (1), shall stand revived with effect from the date of receipt of the order of such annulment by the Commissioner: Provided that such revival shall cease to have effect, if such order of an .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

be made after a search under section 132 or requisition under section 132A, it may be germane to refer to the provisions of sections 132 and 132A of the Act. Section 132 of the Act provides for search and seizure, and to the extent the same is relevant for the present purpose, reads thus: 132. Search and seizure. - (1) Where the Director General or Director or the Chief Commissioner or Commissioner or any such Deputy Director or Deputy Commissioner as may be empowered in this behalf by the Boar .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

tted or failed to produce, or cause to be produced, such books of account or other documents as required by such summons or notice, or (b) any person to whom a summons or notice as aforesaid has been or might be issued will not, or would not, produce or cause to be produced, any books of account or other documents which will be useful for, or relevant to, any proceeding under the Indian Incometax Act, 1922 (11 of 1922 ), or under this Act, or (c) any person is in possession of any money, bullion .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ny Deputy Director, Deputy Commissioner, Assistant Director, Assistant Commissioner or Income- tax Officer, or (B) such Deputy Director or Deputy Commissioner, as the case may be, may authorise any Assistant Director, Assistant Commissioner or Income-tax Officer, the officer so authorised in all cases being hereinafter referred to as the authorised officer to- (i) enter and search any building, place, vessel, vehicle or aircraft] where he has reason to suspect that such books of account, other d .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

account, other documents, money bullion, jewellery or other valuable article or thing; (iii) seize any such books of account, other documents, money, bullion, jewellery or other valuable article or thing found as a result of such search; (iv) place marks of identification on any books of account or other documents or make or cause to be made extracts or copies therefrom; (v) make a note or an inventory of any such money, bullion, jewellery or other valuable article or thing: Provided that where .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

thorisation for the Chief Commissioner or Commissioner] having jurisdiction over such person may be prejudicial to the interest of the revenue:] Provided further that where it is not possible or practicable to take physical possession of any valuable article or thing and remove it to a safe place due to its volume, weight or other physical characteristics or due to its being of a dangerous nature, the authorised officer may serve an order on the owner or the person who is in immediate possession .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

132A. Powers to requisition books of account, etc. (1) Where the Director General or Director or the Chief Commissioner or Commissioner, in consequence of information in his possession, has reason to believe that - (a) any person to whom a summons under sub-section (1) of section 37 of the Indian Income-tax Act, 1922, or under sub-section (1) of sec. 131 of this Act, or a notice under subjection (4) of section 22 of the Indian Incometax Act, 1922, or under sub-section (1) of section 142 of this .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

Income-tax Act, 1922 (11 of 1922), or under this Act and any person to whom a summons or notice as aforesaid has been or might be issued will not or would not produce or cause to be produced, such books of account or other documents on the return of such books of account or other documents by any officer or authority by whom or which such books of account or other documents have been taken into custody under any other law for the time being in force, or (c) any assets represent either wholly or .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

-tax Officer] (hereafter in this section and in sub-section (2) of section 278D referred to as the requisitioning officer) to require the officer or authority referred to in clause (a) or clause (b) or clause (c), as the case may be, to deliver such books of account, other documents or assets to the requisitioning officer. 12. Section 132 of the Act makes provision for search and seizure. The powers of search and seizure can be exercised thereunder provided the requirements of sub-section (1) th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

not wholly or partly income or property, which has not been or would not be disclosed by the assessee. Thus, it appears that the objective of a search under section 132 of the Act is to secure evidence which is not likely to be made available by issue of summons or by visiting, in ordinary course, the premises concerned. The authorities under the Act have powers to summon persons and documents and have to resort to search and seizure when there is evidence of undisputed documents or assets whic .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ce of any information in his possession reason to believe that such assets represent wholly or partly income or property which has not been or would not have been disclosed for the purposes of the Act by any person from whose possession or control such assets had been taken into custody by the officer or authority from whom these were requisitioned. 14. Essentially, therefore, both the provisions contemplate search and requisition where the assessee is not likely to disclose his income. It appea .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

urn of income in respect of each assessment year falling within six assessment years immediately preceding the assessment year relevant to the previous year in which such search is conducted or requisition is made and assess or reassess the same. Since the assessment under section 153A of the Act is linked with search and requisition under sections 132 and 132A of the Act, it is evident that the object of the section is to bring to tax the undisclosed income which is found during the course of o .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

intention of the legislature clear as the same provides that assessment or reassessment, if any, relating to the six assessment years referred to in the sub-section pending on the date of initiation of search under section 132 or requisition under section 132A, as the case may be, shall abate. Sub-section (2) of section 153A of the Act provides that if any proceeding or any order of assessment or reassessment made under sub-section (1) is annulled in appeal or any other legal provision, then th .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

ovides for revival of any assessment or reassessment which stood abated, if any proceeding or any order of assessment or reassessment made under section 153A of the Act is annulled in appeal or any other proceeding. 16. Section 153A bears the heading Assessment in case of search or requisition . It is well settled as held by the Supreme Court in a catena of decisions that the heading of the section can be regarded as a key to the interpretation of the operative portion of the section and if ther .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

nnected with something found during the search or requisition, viz., incriminating material which reveals undisclosed income. Thus, while in view of the mandate of sub-section (1) of section 153A of the Act, in every case where there is a search or requisition, the Assessing Officer is obliged to issue notice to such person to furnish returns of income for the six years preceding the assessment year relevant to the previous year in which the search is conducted or requisition is made, any additi .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

would include income declared in the returns, if any, furnished by the assessee as well as undisclosed income, if any, unearthed during the search or requisition. In case where a pending reassessment under section 147 of the Act has abated, needless to state that the scope and ambit of the assessment would include any order which the Assessing Officer could have passed under section 147 of the Act as well as under section 153A of the Act. 17. In the facts of the present case, a search came to b .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

in respect thereof came to be issued on 19.12.2011 seeking an explanation from the assessee. The assessee gave its response by reply dated 21.12.2011 calling upon the Assessing Officer to provide copies of statements recorded on oath of Shri Rohit P. Modi and Smt. Pareshaben K. Modi during the search as well as the copies of the documents upon which the department placed reliance for the purpose of making the proposed addition as well as the copy of the explanation given by Shri Rohit P. Modi an .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

on. 18. In this case, it is not the case of the appellant that any incriminating material in respect of the assessment year under consideration was found during the course of search. At the relevant time when the notice came to be issued under section 153A of the Act, the assessee filed its return of income. Much later, at the fag end of the period within which the order under section 153A of the Act was to be made, in other words, when the limit for framing the assessment as provided under sect .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

under section 132A, while computing the total income of the assessee under section 153A of the Act, additions or disallowances can be made only on the basis of the incriminating material found during the search or requisition. In the present case, it is an admitted position that no incriminating material was found during the course of search, however, it is on the basis of some material collected by the Assessing Officer much subsequent to the search, that the impugned additions came to be made. .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version