TMI Blog2023 (8) TMI 84X X X X Extracts X X X X X X X X Extracts X X X X ..... atable, to the material found during search. Decided against revenue. - ITA Nos. 53 And 54/Coch/2022 And CO Nos. 01 And 02/Coch/2023 - - - Dated:- 31-7-2023 - Shri Sanjay Arora, Accountant Member And Shri Manomohan Das, JudicialMember For the Appellant : Shri Surendranath Rao, CA For the Respondent : Smt. J.M. Jamuna Devi, Sr. D.R. ORDER PER: BENCH This is a set of two Appeals by the Revenue directed against the appellate order dated 29.11.2021 by the Commissioner of Income Tax (Appeals)-3, Kochi ( CIT(A) ) allowing the assessee s appeals contesting his assessments under section 153A read with section 143(3) of the Income Tax Act, 1961 ( the Act ) for Assessment Years (AYs.) 2011-12 and 2013-14, a combined orde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RM at Rs. 175 lakhs. That is, the genesis of the said addition is the disclosure of the relevant transactions, and has nothing to do with the discovery of any material found or unearthed during search, which was carried on in Reena group cases on 10.6.2015. The Hon'ble Apex Court has per it s said decision clarified that the jurisdiction to assess income u/s. 153A of the Act for an unabated assessment would only be on the basis of incriminating material found during search u/s. 132 or requisition u/s. 132A of the Act. That is, the jurisdiction to assess income under section 153A of the Act, notwithstanding that the provision requires the AO to assess total income, defined u/s. 2(45), could only be in relation to an incriminating materia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce as on the date of search and, two, the addition/s made in the impugned assessments does not owe its origin, or is relatable, to the material found during search. We extract the relevant part of the said decision to exhibit the statement of law in Abhisar Buildwell (supra), as under: (pgs. 247-248) 14. In view of the above and for the reasons stated above, it is concluded as under: - (i) that in case of search under section 132 or requisition under section 132A, the Assessing Officer assumes the jurisdiction for block assessment under section 153A; (ii) all pending assessments/reassessments shall stand abated; (iii) in case any incriminating material is found/unearthed, even, in case of unabated/completed assessments, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 63 ITR 232 (SC) as not exhaustive of the powers of the Tribunal. The primary fact of disclosure of the loan or advance transaction/s between the two stated entities, is a given. The assessee s COs, filed only to press into service the binding decision by the Hon'ble Apex Court in Abhisar Buildwell Pvt. Ltd . (supra), i.e., raise a legal issue with reference thereto which the law envisages even otherwise, are only supportive of the impugned order. The delay in their filing, particularly given the decisions by the Hon'ble jurisdictional High Court at the relevant time taking a contrary view, since accepted, cannot be explained in terms thereof. The COs are thus not maintainable, and are accordingly dismissed as not admitted. 4. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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