TMI Blog2022 (2) TMI 1098X X X X Extracts X X X X X X X X Extracts X X X X ..... criminating material was found in the search. Since no incriminating material was found in the search conducted on the assessee, therefore, reassessment proceedings under Section 153 A of the Act could not have been initiated by the Assessing Officer and such initiation of proceedings was wholly without jurisdiction.- Decided in favour of assessee. - INCOME TAX APPEAL No. – 51, 45, 46 of 2021, INCOME TAX APPEAL DEFECTIVE No. – 29, 30, 31, 32 of 2021, INCOME TAX APPEAL No. - 12 of 2022, INCOME TAX APPEAL No. - 2 of 2022, INCOME TAX APPEAL No. - 11 of 2022, INCOME TAX APPEAL DEFECTIVE No. - 13 of - - - Dated:- 22-2-2022 - Hon'ble Surya Prakash Kesarwani And Hon'ble Jayant Banerji , JJ. For the Appellant : Praveen Kumar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Act, 1961. The Assessment Orders passed by the assessing authority were affirmed by the CIT (Appeal) but it was upset by the impugned order passed by the Income Tax Appellate Tribunal. (ii) The finding of the Tribunal that there was no incriminating material or that in the absence of any incriminating material found in search, no reassessment under Section 153 A can be made, is not only incorrect but also perverse and against the provisions of Section 153 A of the Act. (iii) Reliance is placed upon the judgment of this Court i.e. the jurisdiction of High Court in Commissioner of Income Tax VS. Raj Kumar Arora, (2014) 367 ITR 517 (Alld.) and Commissioner of Income Tax Vs. Kesarwani Zarda Bhandar in ITA No. 270 of 2014 decid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the Income Tax Appellate Tribunal. (iv) There is distinction between proceedings abated and the proceedings which are concluded , as evident from bare reading of Section 153 A of the Act, 1961. Since assessment proceedings of the respondent assessees fall under the category concluded , therefore, provisions of Section 153 A could not have been invoked unless some specific incriminating material was found in the search. Since no incriminating material was found in the search conducted on the assessee, therefore, reassessment proceedings under Section 153 A of the Act could not have been initiated by the Assessing Officer and such initiation of proceedings was wholly without jurisdiction. (v) Reliance is placed upon the jud ..... X X X X Extracts X X X X X X X X Extracts X X X X
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