PARAM PROPERTT DEVLOPER,AMBERNATH vs. ACIT, CENTRAL CIRCLE-2, THANE, THANE

ITA 3243/MUM/2025Status: DisposedITAT Mumbai20 February 2026AY 2020-2157 pages
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What did the Tribunal hold?

The Tribunal held that additions made under Section 153A/153C of the Income-tax Act, 1961, in respect of transactions already recorded in the regular books of account are invalid if no incriminating material was found during the search operation. Assessments that have attained finality and are not pending cannot be reopened under Section 153A unless such incriminating material is discovered.

What were the facts?

The assessee received unsecured loans from two companies alleged to be shell entities. The Assessing Officer (AO) deemed the loans non-genuine, citing that the companies were not found at their addresses and were involved in accommodation entry operations. The Commissioner of Income-tax (Appeals) upheld the AO's additions.

What were the issues?

Whether additions made under Section 153A/153C are valid when based on post-search inquiries and not on incriminating material found during the search, for transactions already recorded in regular books of account. Whether unabated assessments can be reopened under Section 153A without finding incriminating material.

Which sections of the Income-tax Act were involved?

Section 68,Section 115BBE,Section 153A,Section 153C

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Cases cited in this judgment(7)Show list

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IN THE INCOME-TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER & SHRI PRABHASH SHANKAR, ACCOUNTANT MEMBER IT(SS)A/3241/MUM/2025 (A.Y. 2016-17) IT(SS)A/3242/MUM/2025 (A.Y. 2017-18) IT(SS)A/3243/MUM/2025 (A.Y. 2020-21)

Param Property Developers v/s. Assistant Commissioner of Plot No. 30, Jivandeep बनाम Income Tax, Central Circle Apartment, Station Road, Ambarnath(E), Thane 421501, Maharashtra 2,Thane, Ashar IT Park, 6th Floor, Wagale Industrial Estate, Thane- 400 604, Maharashtra स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AALFP9248G Appellant/अपीलार्थी .. Respondent/प्रतिवादी Pride Infrastructure IT(SS)A/3309/MUM/2025 (A.Y. 2014-15) IT(SS)A/3310/MUM/2025 (A.Y. 2015-16) v/s. Assistant Commissioner of Plot No. 34, Ketan Bhavan, बनाम Income Tax, Central Circle Suryoday CHS Ltd., Station Road, Ambarnath(E), Thane 421 501, Maharashtra 2,Thane, Ashar IT Park, 6th Floor, Wagale Industrial Estate, Thane- 400 604, Maharashtra स्थायी लेखा सं./जीआइआर सं./PAN/GIR No: AAMFP3255G Appellant/अपीलार्थी .. Respondent/प्रतिवादी ITA No. 3241 3242 3243 3309 3310 3244 3245 3246 2873 2874 2875 2812 2813 2814 2815 28162817/Mum/2025 A.Y. 2011-12, 2012-13, 201

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