TMI Blog2019 (1) TMI 584X X X X Extracts X X X X X X X X Extracts X X X X ..... m of tally accounts is an incriminating material found during search as claimed by the Revenue. In the absence of any incriminating material, this Tribunal is of the considered opinion that there cannot be any assessment under Section 153A / 153C of the Act as found by the CIT(Appeals). This view of ours is fortified by the judgment of Apex Court in Principal CIT v. Meeta Gutgutia [2018 (7) TMI 569 - SUPREME COURT OF INDIA. - Decided against revenue - ITA No.1606/Chny/2018, ITA No.1607/Chny/2018, ITA No.1608/Chny/2018, ITA No.1609/Chny/2018, ITA No.1610/Chny/2018, ITA No.1611/Chny/2018 And ITA No.1612/Chny/2018 - - - Dated:- 3-12-2018 - SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER For The Appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the CIT(Appeals) is not correct in saying that no incriminating material was found. Hence, according to the Ld. D.R.,the decision of Special Bench of this Tribunal in All Cargo Global Logistics Ltd. v. DCIT (2012) 137 ITD 287 and the judgment of Karnataka High Court in Principal CIT v. Smt. Lakshmi Singh (2017) 78 taxmann.com 207 may not be applicable to the facts of the case. 3. On the contrary, Shri K.M. Mohandass, the Ld. representative for the assessees, submitted that for the assessment year 2011-12, the assessee in I.T.A. No.1606/Chny/2018 filed its return of income on 31.03.2012, the assessees in I.T.A. No.1607, 1608, 1609, 1610 and 1612/Chny/2018 filed their return of income on 30.09.2011 and the assessee in I.T.A. No.1611/Chny/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The returns in respect of all the assessees were processed under Section 143(1) of the Act. Therefore, according to the Ld. representative, what was claimed to be found during the course of search operation is not a new material but it was already available before the Assessing Officer. Hence, that cannot be construed to be a seized material for the purpose of making either assessment or reassessment. In the absence of any new material, according to the Ld. representative, the Assessing Officer cannot reopen the assessment which was already concluded, therefore, the CIT(Appeals) has rightly found that in the absence of any incriminating material, there cannot be any assessment under Section 153A / 153C of the Act. 4. We have considered t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in dispute that the very same document was already available before the Assessing Officer along with the return of income. Therefore, at any stretch of imagination, it cannot be said that the audited statement in the form of tally accounts is an incriminating material found during search as claimed by the Revenue. In the absence of any incriminating material, this Tribunal is of the considered opinion that there cannot be any assessment under Section 153A / 153C of the Act as found by the CIT(Appeals). This view of ours is fortified by the judgment of Apex Court in Principal CIT v. Meeta Gutgutia (2016) 385 ITR 624. Therefore, this Tribunal do not find any reason to interfere with the order of the lower authority and accordingly the same is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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