TMI Blog2014 (10) TMI 909X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT(A) in both the years and direct the AO to delete the impugned additions made in both the years. - Decided in favour of assessee - I.T.A. No. 8576 & 8577/Mum/2010 - - - Dated:- 17-10-2014 - S/SHRI H.L. KARWA, PRESIDENT AND B.R. BASKARAN (AM) Appellant by: Mrs. Apecksha Gada Respondent by: Shri Santosh Kumar O R D E R Per B.R.BASKARAN, Accountant Member: Both the appeals filed by the Assessee are directed against the separate orders, both dated 14.9.2010, passed by ld. CIT(A)-37, Mumbai and they relate to the assessment years 2003-04 and 2005-06. The assessee, inter alia, is contesting the validity of the additions made by the assessing officer in sec. 153A assessment proceedings. 2. The facts rel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /s 143(2) of the Act. She further submitted that the time limit for issuing notice u/s 143(2) of the Act for both the years had also expired prior to the date of search, i.e., prior to 11.04.2007. Accordingly the Ld A.R submitted that both the assessment years under consideration would fall in the category of concluded assessments as per the provisions of sec. 153A of the Act. Accordingly she submitted that, under sec. 153A, the concluded assessments will not abate. The ld. AR of the Assessee placed reliance on the order dated 11.12.2013 passed by the Mumbai Bench of Tribunal in the case of Mr.Vinay Chhadwa V/s ACIT in ITA No.8578/Mum/2010 (AY-2003-04) and submitted that, in the case of concluded assessments, the additions, if ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Assessee, it has been held that the AO would be entitled to make any addition in the case of concluded assessments only on the basis of incriminating materials found during the course of search, since the concluded assessments do not abate by virtue of section 153A of the Act. The said view is also supported by the decision of Mumbai Special bench of ITAT rendered in the case of All Cargo Global Logistics Ltd (ITA No.5108 to 5022/Mum/2010 dated 06-07-2012). Further, in the case of Shri Govind Agarwal (supra) relied upon by the assessee, we notice that the Tribunal has placed reliance on the decision rendered by the Hon ble Rajasthan High Court in the case of Jai Steel (India), Jodhpur V/s ACIT [2013] 36 taxmann.com 523, wherein the Hon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent in the case of the Jai Steel Ltd (supra), the arguments on the legal issue raised before us stands covered. Therefore, considering the Rajasthan High Court s judgment in the case of Jai Steels Ltd, supra, we have no difficulty in (i) upholding the issue of notice u/s 153A of the Act and (2) in disapproving the making of the impugned additions u/s 68 and 14A of the Act, which are not backed by the incriminating materials. In the absence of incriminating material, the role of the AO is only to reiterate the returned income filed in response to the notice u/s 153A of the Act. Accordingly, in substance, the common legal issue raised in the grounds for both the appeals of the assessee (ITA NO 3389 3390/M/2011) is allowed 6. In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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