TMI Blog2016 (3) TMI 1235X X X X Extracts X X X X X X X X Extracts X X X X ..... ncriminating material relating to the assessee found during the course of search, there cannot be any assessment under S.143(3) read with S.153A, as far as the concluded assessments are concerned. Learned counsel for the assessee has successfully demonstrated before us that in all these cases, either assessments were completed or the due date for the issuance of notice under S.143(2) has lapsed prior to the date of search. Therefore, we quash the impugned assessments made under S.143(3) read with S.153A - Decided in favour of assessee. - ITA No. 1832, 1833, 1834, 1835, 1836, 1837, 1838, 1839, 1840, 1841/Hyd/2014 - - - Dated:- 24-3-2016 - P. Madhavi Devi (Judicial Member) And S. Rifaur Rahman (Accountant Member) For the Appellants : ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat there was a search and seizure operation under S.132 of the Act in the case of Madhucon Projects Limited and group of cases on 4.2.2011. In connection with the search in Madhucon Ltd., assessee firm being one of the sub-contractors was also searched. Accordingly, notice under S.153A of the Act was issued to the assessee, and in the assessment order ultimately passed under S.143(3) read with S.153A of the Act on 28.3.2013, the Assessing Officer observed vide para.3.3 thereof, as under- 3.3 This premises incidentally belongs to one of the relatives of the founder chairman of M/s.Madhucon Projects Limited. On the day of search i.e. 4.02.2011, when the search party reached this premises, the premises was found to be under lock and key ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessees preferred appeals before the CIT(A), who dismissed the same and hence, the assessees are in second appeal before us. 5. Learned counsel for the assessee submitted that from para 3.3 of the assessment order reproduced above, which is similar and materially same, in the case of all these assessees, it is clear that there was no incriminating material found during the course of search in the case of the assessees herein and therefore, the assessments could not have been completed u/s.143(3) read with S.153A of the Act. He also submitted that in all these cases, assessments for the assessment years 2005-06 to 2008-09 were either completed under S.143(3) of the Act or the time for issuance of notice under S. 143(2) has already lapse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... incriminating material was found relating to the assessees for the relevant assessment years during the course of search. It has been held in various cases that unless and until there is incriminating material relating to the assessee found during the course of search, there cannot be any assessment under S.143(3) read with S.153A, as far as the concluded assessments are concerned. Learned counsel for the assessee has successfully demonstrated before us that in all these cases, either assessments were completed or the due date for the issuance of notice under S.143(2) has lapsed prior to the date of search. Therefore, following the decisions of the coordinate bench of this Tribunal in the case of Midewest Gold Ltd. (supra) and also AMR Indi ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
