TMI Blog2019 (3) TMI 1140X X X X Extracts X X X X X X X X Extracts X X X X ..... ence of any incriminating material found during the search, no additions could have been made in the assessment order passed u/s 153A read with 143(3) of the Act. The Tribunal had to decide the correctness of his contention, bearing in mind the facts on record. There was no purpose in remanding the issue back to the AO. The facts necessary to decide the question were at large before the Tribunal. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with the consent of the learned Counsel for the parties. Since facts are common in both the Appeals, we may notice the same from Income Tax Appeal No.1452 of 2016. 2. This Appeal is filed by the Assessee to challenge the Judgment of Income Tax Appellate Tribunal ( the Tribunal , for short) dated 30th November, 2015. The Appeal is related to the Assessment Year 2006-2007. The assessment in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r making following observations : ..... It is the submission of the Ld. Counsel for the assessee that since no incriminating material was found during the course of search, therefore, in view of the decision of the Hon ble Bombay High Court in the case of Continental Warehousing Corporation (Supra) and Murali Agro Products Ltd. (Supra) the AO could not have made any addition u/s. 68 of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... addition u/s. 68 of the I.T. Act, 1961 in absence of any incriminating material found during the course of search. Under the aforementioned circumstances, we deem it proper to restore the issue to the file of the AO with a direction to decide the issue afresh and in accordance with law after giving due opportunity of being heard to the assessee. The AO while deciding the issue shall keep in mind ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he facts necessary to decide the question were at large before the Tribunal. Whether in view of such facts, the Judgments cited by the Counsel for the Assessee were applicable or not, the Tribunal had to decide. This issue should not have been remanded to the Assessing Officer. 4. In view of this discussion, the impugned Judgment of the Tribunal which is common for both assessment years giving ..... X X X X Extracts X X X X X X X X Extracts X X X X
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