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Facts
The Revenue's appeal for AY 2009-10 arises from an assessment framed under Section 153A of the Income Tax Act, 1961, after a search on 07.10.2010. The Assessing Officer made additions based on this search.
Held
The Tribunal noted that the assessment was 'unabated' and additions were to be based on seized material. However, since no additions were made on the basis of specific seized material, the appeal was rejected.
Key Issues
Whether additions made in assessment proceedings initiated under Section 153A are valid when not based on specific seized material found during a search.
Sections Cited
143(3), 153A, 1961
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Income Tax Appellate Tribunal, AGRA BENCH, AGRA
Before: Sh. Satbeer Singh Godara & Sh. M. Balaganesh
ORDER
Per Satbeer Singh Godara, Judicial Member:
This Revenue’s appeal for Assessment Year 2009-10, arises against the CIT(A), Gwalior’s in case No. 424 to 429/IT/2013- 14/Gwalior dated 30.09.2019, in proceedings u/s 143(3) r.w.s. 153A of the Income Tax Act, 1961 (in short “the Act”).
Heard both the parties at length. Case file perused.
Coming to the Revenue’s instant appeal, we note at the outset that the learned departmental authorities had conducted the search in question in assessee’s case on 07.10.2010 leading to initiation of Section 153A proceedings culminating in the ./2019 Shiv Kumar Gupta Assessing Officer’s assessment framed on 25.03.2013 making the additions in question. There could be hardly any dispute that we are dealing with an “unabated” assessment as on the date of search wherein and any addition has to be made in the assessee’s hands based on the specific seized material only as per PCIT Vs. Abhisar Builwell P. Ltd. (2023) 454 ITR 212 (SC).
We are of the considered view that given the fact that there is no addition made on the basis of the specified seized material, we reject the Revenue’s instant appeal in very terms on this preliminary legal issue.
This Revenue's appeal is dismissed. Order Pronounced in the Open Court on 03/02/2025.