TMI Blog2021 (3) TMI 822X X X X Extracts X X X X X X X X Extracts X X X X ..... now plethora of various high Court judgments which have reiterated the principle that in case of unabated assessment, the addition can be made in the assessment framed u/s 153A only when there is any incriminating material found during the course of search and it is only in the cases of abated assessment AO has power to assess or reassess the undisclosed income and the other income. CIT (A) in the impugned order has not disputed the fact that the additions made by the AO in all the four cases are based on any incriminating material found during the course of search albeit they are based on entries in the regular bank account duly disclosed by the assessee. It is not the case of the AO that these are unaccounted bank statements which were unearthed during the course of search. Hence it can be concluded that these additions are not based on any incriminating material found during the course of search and thus in such a situation thus such an addition are beyond the scope of assessment u/s 153A therefore, the same are directed to be deleted. Appeals filed by the assessee are allowed. - ITA No.26/DDN/2019, ITA No. 27/DDN/2019, ITA No. 28/DDN/2019, ITA No. 29/DDN/2019 - - - Dated:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s qua the issue of addition of ₹ 2,00,00,000/- in all the cases are that, a search and seizure operation was carried out on 20.3.2016 at the residential and office premises belonging to the Kumar Group including in the cases of all the four assessees. During the course of assessment proceedings, the Ld. AO from the bank account filed by the assessee with the Axis Bank, Civil Lines, Rudrapur noted that there are credit entries received from M/s. Sunview Retail Pvt. Ltd. and M/s. Siddheswari Vyapaar Pvt. Ltd. For the sake of ready reference, the details of amount received through cheque from M/s. Sunview Retail Pvt. Ltd. and M/s. Siddheswari Vyapaar Pvt. Ltd. are as under:- Rukman Agarwal ! S.No, Date Description Amount 1. 03.03.2011 Sunview Retail/CN#_123496 Rs, 25,00,000/- 2. 05.03.2011 Sunview Retail/ CN#_038105 ₹ 25,00,000/- 3. 07.03.2011 Sunview Retail/CN#038109 ₹ 50,00,000/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ticulars Credit 15.10.2011 RTGS-ORBCH 11288046229 Siddheshwari Vyapaar Pvt. Ltd. 55,00,000/- 15.10.2011 RTGS-ORBCH 11288050575 Siddheshwar Vyapaar Pvt. Ltd. 16,00,000/- 17.10.2011 RTGS-ORBCH 11290052503 Siddheshwari Vyapaar Pvt. Ltd. 50,00,000/- 17. 10.2011 RTGS-ORBCH 11290060380 Siddheshwari Vyapaar Pvt. 'Ltd, 44,00,000/- 18.10.2011 RTGS-ORBCH 11291064949 Siddheshwari Vyapaar Pvt. Ltd. 20,00,000/- 18.10.2011 RTGS-ORBCH 11291070149 15,00,000/- 3. The Ld. AO thus observed that in these bank statements, huge amount aggregating to ₹ 2,00,00,000/- in each of the assessees have been received either from M/s. Sunview Retail Pvt. Ltd. or M/s. Siddheswari Vyapaar Pvt. Ltd. However, the same are not appearing anywhere in the balance shee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Similarly, in the case of Shri Saurabh Agarwal and Shri Abhishek Agarwal, it was stated that the amount of ₹ 2,00,00,000/- each received in the Axis Bank account from M/s. Siddheshwari Vyapar Pvt. Ltd. Kolkata against proposed sale of the property at plot No. 41/50 Kishanpur Canal Road, Dehradun including super structure in terms of agreement to sell dated 11th November, 2011. In all these cases following documents were filed:- i) Copy of agreement to sell. ii) Copy of confirmation of account and balance dated 1st April, 2012. iii) Copy of bank account of M/s Sunview Retail Pvt. Ltd. and M/s. Siddheshwari Vyapar Pvt. Ltd. showing the subject transfer. iv) Copy of annual accounts of the company as per MCA records. v) Copy of loans and advances showing name of the assessee. It was further submitted that the said transaction could not be completed as the purchaser was not able to make payments as per the terms and conditions of agreement due to sudden downfall in the prices of real estate in Uttarakhand and finally the assessee has forfeited the advance against sale of property and transferred the said amount to the capital account to the individual balance s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated 25.07.2014 wherein the court has observed as under :- When once the proceedings are initiated under section 153A of the Act, the legal effect is even in case where the assessment order is passed it stands reopened. In the eye of law there is no order of assessment. Re-opened means to deal with or begin with again. It means the Assessing Officer shall assess or reassess the total income of six assessment years. Once the assessment is reopened, the assessing authority can take note of the income disclosed in the earlier return, any undisclosed income found during search or and also any other income which is not disclosed in the earlier return or which in not unearthed during the search, in order to find, out what is the total income of each year and then pass the assessment order. 10. On merits, he submitted that, firstly in the inquiry made by the AO u/s 133(6) either the notices returned back or no reply was received. Neither the directors were produced despite AO specifically asked to the assessee. Accordingly, the onus cast upon the assessee was not discharged. Thus addition has rightly been confirmed by the Ld. CIT (A). 11. We have heard the rival submissions ..... X X X X Extracts X X X X X X X X Extracts X X X X
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