TMI Blog2024 (1) TMI 1229X X X X Extracts X X X X X X X X Extracts X X X X ..... terials of incriminating nature found during the course of search. The word incriminating has not been defined under the Act where it refers to those documents, materials, information which were collected during the search proceedings and simultaneously these documents had bearing on the total income of the assessee. The Tribunal, in the impugned order, has categorically observed that nothing was brought on record contrary to the findings of the CIT(A) and accordingly, no addition of the regular items which were disclosed by the assessee in the regular books of accounts can be made. Also decided in Abhisar Buildwell P. Ltd. [ 2023 (4) TMI 1056 - SUPREME COURT] in case no incriminating material is unearthed during the search, the AO ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hin six assessment years and to assess or re-assess the total income of those six assessment years, and that the scheme of assessment or re-assessment of the total income of a person searched will be brought to naught if no addition is allowed to be made for those six assessment years in the absence of any seized incriminating material? (iii) Whether the Ld. Tribunal has erred in not appreciating that while computation of undisclosed income of the block period u/s. 158BB was not be made on the basis of evidence found as a result of search or requisition of books of accounts, there is no such stipulation in Sec. 153A and Sec. 153B1 specifically states that the provisions of Chapter-XIV-B, under which Sec. 158BB falls, would not be applied ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt of disallowance of interest u/s. 36(1)(iii) of Rs.4,54,28,032/- though the assessee had made interest free advances out of interest bearing funds during the assessment u/s. 153A of the Act by holding that additions have to be confined to the incriminating material found during the course of search u/s. 132(1) of the Act, even though, there is no such stipulation? (viii) Whether the Ld. Tribunal has erred in upholding the order of the Ld. CIT(A) on the issue of deletion of the addition made on account of disallowance of depreciation on wind mills of Rs.16,32,000/- during the assessment u/s. 153A of the Act by holding that additions have to be confined to the incriminating material found during the course of search u/s. 132(1) of the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 006-07 and 2008-09, partly allowed the appeal of the assessee. 2.3 Against the said order of CIT(A) dated 22nd February, 2016, the appellant revenue filed appeal before the Tribunal, Rajkot. The Tribunal vide its impugned order dated 29th June, 2022 did not find any infirmity in the order of CIT(A) and dismissed the appeal of the revenue. 3. At the outset, it is required to be noted that the issues arising in this Appeal is no more res integra in view of the decision of this Court in case of Principal Commissioner of Income Tax-4 v. Saumya Constructions Limited reported in [2016] 387 ITR 529 (Gujarat), wherein it is held that there cannot be any addition of regular item shown in the books of accounts until and unless certain materials ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ring the search, the AO cannot assess or reassess taking into consideration the other material in respect of completed assessments/unabated assessments. Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened by the AO in exercise of powers under Sections 147/148 of the Act, subject to fulfilment of the conditions as envisaged/mentioned under sections 147/148 of the Act and those powers are saved. The question involved in the present set of appeals and review petition is answered accordingly in ter ..... X X X X Extracts X X X X X X X X Extracts X X X X
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