TMI Blog2021 (7) TMI 365X X X X Extracts X X X X X X X X Extracts X X X X ..... 80 - DELHI HIGH COURT] ; CIT Vs. Continental Warehousing Corporation [ 2015 (5) TMI 656 - BOMBAY HIGH COURT] and CIT Vs. Salasar Stock Broking Ltd. [ 2016 (8) TMI 1131 - CALCUTTA HIGH COURT] holding that an assessment u/s. 153A framed in absence of any incriminating material found or seized during the course of survey is not valid. We adopt the very reason mutatis mutandis herein to quash the impugned assessment - Decided in favour of assessee. - ITA No. 899/Hyd/2016 - - - Dated:- 2-7-2021 - S.S. Godara, Member (J) And L.P. Sahu, Member (A) For the Appellant : P. Murali Mohana Rao For the Respondents : Ashok Kardonu, D.R. ORDER S.S. Godara, Member (J) 1. This assessee's appeal for Asst. Year 2001-02 arises fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pholding the disallowance of ₹ 13,77,224/- incurred towards survey expenditure. 8. The Ld. CIT(A) erred in upholding the disallowance of ₹ 25.00 lakhs. 9. The assessee may add, alter, or modify or substitute any other points to the grounds of appeal at any time before or at the time of hearing of appeal. 3. The assessee first and foremost legal issue challenges validity of the impugned assessment framed u/s. 153A r.w.s. 143(3) of the Act. The Revenue has sought to oppose the same at this stage on the ground that it is an attempt on the assessee's part to alter the entire texture of the instant case. We find no merit in the Revenue's foregoing technical argument in view of the fact that the assessee's le ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessment u/s. 143(3) r.w.s. 153A of the Act. There is hardly any dispute that we are dealing with an unabated assessment as on the date of search 20.10.2005 since regular assessment hereunder had already been framed on 18.11.2003. Learned departmental representative fails to dispute this assessment in issue as well as twin additions are nowhere based on any incriminating material found or seized during the course of search/survey. And also that the assessee had already recorded the same in its regular books of accounts which has resulted in latter disallowance. We thus quote CIT Vs. Kabul Chawla (2016) 380 ITR 573 (Del); CIT Vs. Continental Warehousing Corporation (2015) 374 ITR 645 (Bom) and CIT Vs. Salasar Stock Broking Ltd. GA No. 1929 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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