TMI Blog2016 (7) TMI 1361X X X X Extracts X X X X X X X X Extracts X X X X ..... ced on record. AR contension that no notice u/s 143(2) was issued by the AO for the instant year remained uncontroverted on behalf of the Revenue. This shows that the assessee filed its return u/s 139(1) of the Act which was duly processed u/s 143(1) of the Act, thereby assigning finality to the assessment, because no notice u/s 143(2) was issued for completing assessment u/s 143(3). It indicates ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Somil Agarwal Shri Abhishek Anand, Avocates Department By: Shri S.K. Jain, DR ORDER R.S. Syal, This appeal filed by the assessee arises out of the order passed by the CIT(A) on 24.12.2013 in relation to the assessment year 2007-08. 2. The only issue raised in this appeal is against the confirmation of disallowance of a sum of ₹ 8,40,000/- u/s 40A(3) of the Act o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he ld. counsel for the assessee contended that the disallowance u/s 40A(3) is not based on any incriminating material found during the course of search. It was submitted that such a disallowance is unwarranted because the assessment for the instant year already stood completed on the date of search. In support of this proposition, he relied on the judgment of the Hon ble Delhi High Court in CIT vs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which was duly processed u/s 143(1) of the Act, thereby assigning finality to the assessment, because no notice u/s 143(2) was issued for completing assessment u/s 143(3). It indicates that the assessment for the instant year stood completed on the date of search. Going by the verdict given by the Hon ble Delhi High Court in the case of Kabul Chawla (supra) that no addition can be made otherwise t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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