AMISH ANANTRAI MODI,MUMBAI vs. DY CTI-CC-2(1), MUMBAI

ITA 1311/MUM/2021Status: DisposedITAT Mumbai20 September 2022AY 2012-1314 pages
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What did the Tribunal hold?

The Tribunal held that the assessments made under Section 153C were not sustainable due to jurisdictional defects, specifically the absence of incriminating material found during the search. Consequently, additions based on these assessments were deleted.

What were the facts?

A search and seizure operation in the group case of M/s. Navjivan Charitable Trust revealed that the assessee provided accommodation entries to the trust by returning cash after deducting commission. Assessments were made under Section 153C of the Income Tax Act.

What were the issues?

The primary issue was the validity of assessments made under Section 153C without incriminating material. Other issues involved jurisdiction, natural justice, and the merits of additions related to capital gains, cash credits, and commission income.

Which sections of the Income-tax Act were involved?

Section 153C,Section 143(3),Section 68,Section 10(38),Section 127,Section 153D

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Income Tax Appellate Tribunal, MUMBAI BENCH “A”, MUMBAI

Before: SHRI KULDIP SINGH & SHRI S. RIFAUR RAHMAN

For Appellant: Shri Ravikant Pathak, A.R
For Respondent: Shri Rajesh Damor, D.R

Per : Kuldip Singh, Judicial Member:

For the sake of brevity afo

The order continues below.

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