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TMI Blog2025 (2) TMI 1030X X X X Extracts X X X X X X X X Extracts X X X X ..... its return of income on 10.08.2017 declaring total income of Rs. 870/-. Thereafter the proceedings u/s 153A was initiated vide notice dt. 23.01.2019 and the assessment was completed vide order dt. 31.12.2019 passed u/s 143(3) r.w.s. 153A(1)(b) of the Act at a total income of Rs. 8,10,870 /- by making addition of Rs. 8,10,000/- by holding the cash deposited during the demonetization as unexplained cash credits u/s 68of the Act. Assessee preferred appeal before the ld. CIT(A) wherein it was contended that in the case of assessee no search warrant was executed nor any search was taken place at the premises of the assessee and only survey u/s 133A was carried out on 22.01.2018 thus no proceedings u/s 153A could be initiated in the case of the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s 132 of the Act has been conducted at the premises of assessee, not in the case where survey is conducted u/s 133A of the Act. For this he placed reliance on the following judicial pronouncements:- * THE COMMISSIONER OF INCOME TAX VERSUS M/S. BALAJI YARN LTD., 2016 (8) TMI 1278-BOMBAY HIGH COURT, Dated.- August 22, 2016 * SIKSHA "O" ANUSANDHAN VERSUS COMMISSIONER OF INCOME TAX, ORISSA,, 2010 (7) TMI 640-ORISSA HIGH COURT, Dated.- July 2, 2010 * M/S NEW VIRAJ HOUSING AGENCY VERSUS ACIT CENTRAL CIRCLE 1 (1), NAGPUR, 2022 (8) TMi 1065 - I'I'AT NAGPUR, Dated. June 28, 2022 * ACIT-2 (1), RAIPUR VERSUS S.P. COLD STORAGE, 2016 (5) TMI 321-ITAT BILASPUR, Dated.- October 30, 2015 * JM TRADING CORPN. VERSUS ASSISTANT COMMISSIONER O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntry dt. 27.9.2023 has directed the ld. DR to call for report from the AO as to whether search was conducted on assessee and if search was conducted a copy of search warrant in the name of the assessee be produced before the bench. During the course of hearing the ld.CIT Dr has filed a report from the AO i.e. DCIT, Central Circle, Karnal wherein it is categorically admitted by the AO that no panchnama is available in folder containing the name of the assessee. It is also stated by the AO that no paper was found and seized wherein name of assessee / relation to the assessee has been found. The relevant report dt. 12.6.24 submitted by AO is as under: To ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) Notwithstanding anything contained in section 139, section 147, section 148, section 149, section 151 and section 153, in the case of a person where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A after the 31st day of May, 2003 [but on or before the 31st day of March, 2021], the Assessing Officer shall- (a) issue notice to such person requiring him to furnish within such period, as may be specified in the notice, the return of income in respect of each assessment year falling within six assessment years and for the relevant assessment year or years referred to in clause (b), in the prescribed form and verified in the prescribed manner and setting forth such ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e and for the relevant assessment year or years: Provided also that no notice for assessment or reassessment shall be issued by the Assessing Officer for the relevant assessment year or years unless- (a) the Assessing Officer has in his possession books of account or other documents or evidence which reveal that the income, represented in the form of asset, which has escaped assessment amounts to or is likely to amount to fifty lakh rupees or more in the relevant assessment year or in aggregate in the relevant assessment years; (b) the income referred to in clause (a) or part thereof has escaped assessment for such year or years; and (c) the search under section 132 is initiated or requisition under section 132A is made on or after ..... X X X X Extracts X X X X X X X X Extracts X X X X
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