TMI Blog2023 (2) TMI 127X X X X Extracts X X X X X X X X Extracts X X X X ..... rtment. - ITA No.134 of 2018 - - - Dated:- 1-2-2023 - DR. S. MURALIDHAR CHIEF JUSTICE AND M. S. RAMAN, JUDGE For the Appellant : Mr. Tushar Kanti Satapathy, Sr. Standing Counsel with Mr. Avinash Kedia, Jr. Standing Counsel For the Respondent : Mr. Sidhartha Ray, Sr. Advocate assisted by M/s. A. Pattnaik and Associates, Advocates ORDER Dr. S. Muralidhar, CJ. 1. Admit. The following question is framed for consideration: Whether, on the facts and in the circumstances of the case and in law, the ITAT was right in holding that the additions in question were not based on any search material and, therefore, the additions so made de hors search material is unsustainable when the facts leading to addition made un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... source of the credit as received through selling of shares. However, the Assessing Officer (AO) did not accept the explanation and made an addition of Rs.4,85,15,000/- under Section 68 of the Act in the assessment order dated 31st March, 2015. 5. The Assessee then filed an appeal before the Commissioner of Income Tax (Appeals) [CIT (A)] who dismissed the appeal of the Assessee on the ground that it had failed to prove the identity and creditworthiness of the aforementioned company. The CIT (A) affirmed the addition made by the AO under Section 68 of the Act. 6. Thereafter, the Assessee went in the appeal before the ITAT where inter alia it contended that the assessment under Section 153A of the Act had been made on the basis of the bo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Senior Standing Counsel for the Department placed reliance on the decisions in Kale Khan Mohammad Hanif v. Commissioner of Income Tax, Madhya Pradesh and Bhopal, MANU/SC/0292/1963, Commissioner of Income Tax v. P. Mohankala AIR 2007 SC 2116 and Rajmandir Estates Private Limited v. Principal Commissioner of Income Tax, Kolkata-III MANU/WB/0350/2016 and urged that the question framed by the Court must be answered in favour of the Department. 9. Having perused the above decisions, the Court finds that none of them deals with the situation of an assessment under Section 153A of the Act pursuant to a search under Section 132 of the Act. IN particular, they do not deal with the situation where no incriminating material is found during the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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