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TMI Blog2024 (6) TMI 1026X X X X Extracts X X X X X X X X Extracts X X X X ..... ing Officer has passed the order dated 10.12.2018, in accordance with the directions of the Tribunal in ITA No. 6415/Del/2013 dated 29.01.2018. In the first round of litigation, the Tribunal had directed the AO to continue with the proceedings u/s. 153C of the Act, where the seized documents belonged to the relevant assessment year and the transactions reflected in the seized documents are not recorded in the books of account. The AO in assessment order has categorically pointed that the assessee was not carrying any genuine business and the entire cash purchases were disallowed as bogus in the preceding AYs i.e. AY 2003-04, 2004-05 and 2005-06 u/s. 153C of the Act. The facts remain the same in the impugned assessment year. The addition has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t i.e., the Assessing Officer will first verify the years to which the seized documents belonged. There would be no justification for continuation of the proceedings under Section 153C to which the seized documents do not belong. Therefore, the Assessing Officer will drop the proceedings initiated under Section 153 of the years to which the seized documents do not belong. For the year to which the seized documents belonged, he will verify whether the transaction reflected by the seized documents are duly accounted for in the books of account. If the transactions are duly accounted for in the books of account, as contended by the learned counsel, the Assessing Officer will drop the proceedings initiated under Section 153C. However, if for th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stigation Wing, detailed judgement has been given in Para 12, hereinafter. I thus held that the appellant company succeeds on the grounds no. 1, 2, 3, 4, 4A, 4B and 6 i.e. on validity of assumption u/s. 153C and additions in question. The grounds involving the above issues are accordingly allowed." 6. It is no more re-integra that provisions of section 153C of the Act can be invoked only if any incriminating material seized during the course of search action pertain to that particular assessment year. [Re. CIT vs Sinhgad Technical Education Society, 84 taxmann.com 290 (SC)]. 7. The ld. DR could not controvert the findings of the CIT(A), hence, we find no infirmity in the impugned order. In the result, impugned order is upheld and appeal o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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