TMI Blog2020 (2) TMI 940X X X X Extracts X X X X X X X X Extracts X X X X ..... Only one assessment shall be made separately for each AY on the basis of the findings of the search and any other material existing or brought on the record of the AO. Completed assessments can be interfered with by the AO while making the assessment under Section 153 A only on the basis of some incriminating material unearthed during the course of search or requisition of documents or undisclosed income or property discovered in the course of search which were not produced or not already disclosed or made known in the course of original assessment. The present appeals on the date of the search the said assessments already stood completed. Since no incriminating material was unearthed during the search, no additions could have been ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Year. 4. The assessee vehemently agitated the matter before the ld. CIT(A) and contended that none of the additions/disallowances is based upon any incriminating material found during the course of search proceedings. Therefore, the ratio laiddown by the Hon'ble High Court of Delhi in the case of Kabul Chawla 380 ITR 573 squarely applies on the facts of the case in hand and hence the assessment deserves to be set aside. 5. After considering the facts and submissions, the ld. CIT(A) was convinced that none of the additions were based upon any incriminating material and drawing support from the decision of the Hon'ble High Court of Delhi in the case of Kabul Chawla [supra] held that the additions made by the Assessing Office ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sidered opinion, audited books of account found at the time of search cannot be treated as incriminating material. Further, the allegation that on perusal of ledger account, it was not known whether the payments have been made by bearer cheques or account payee cheques, is also ill-founded because the ledger extracts relied upon by the Assessing Officer and emphasized by the ld. DR contain only entries in respect of account payee cheques and on post search enquiries, banks have submitted details in respect of payments made by account payee cheques. 9. We do not find anything incriminating in these entries. The bearer cheques were encashed by some persons who were having transactions with the purchasers of the assessee and those persons ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ab Sind (A/c CC-71) KUNDLI 3 CASH DEPOSITED 04.04.2008 450000.00 Punjab Sind (A/c CC-71) KUNDLI 4 CASH DEPOSITED 25.06.2008 200000.00 Punjab Sind (A/c CC-71) KUNDLI 5 CASH DEPOSITED 21.11.2007 120000.00 Punjab Sind (A/c CC-71) KUNDLI 6 CASH DEPOSITED 16.06.2008 105914.00 Punjab S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act, notice under Section 153 A (1) will have to be mandatorily issued to the person searched requiring him to file returns for six AYs immediately preceding the previous year relevant to the AY in which the search takes place. ii. Assessments and reassessments pending on the date of the search shall abate. The total income for such AYs will have to be computed by the AOs as a fresh exercise. iii. The AO will exercise normal assessment powers in respect of the six years previous to the relevant AY in which the search takes place. The AO has the power to assess and reassess the 'total income' of the aforementioned six years in separate assessment orders for each of the six years. In other words there will be only o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of documents or undisclosed income or property discovered in the course of search which were not produced or not already disclosed or made known in the course of original assessment. 38. The present appeals concern AYs, 2002-03, 2005-06 and 2006-07.On the date of the search the said assessments already stood completed. Since no incriminating material was unearthed during the search, no additions could have been made to the income already assessed. 13. In light of the above, we do not find any error or infirmity in the findings of the ld. CIT(A). All the appeals filed by the revenue are, accordingly, dismissed on the point of law. Therefore, we do not find it necessary to dwell into the merits of the case. 14. In the re ..... X X X X Extracts X X X X X X X X Extracts X X X X
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