DCIT, NEW DELHI vs. M/S. M.N. SECURITIES PVT. LTD., NEW DELHI

ITA 3832/DEL/2014Status: DisposedITAT Delhi27 February 2018AY 2005-0620 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that additions cannot be made under Section 153C read with Section 153A of the Act if no incriminating material is found during the search, and the original assessment has attained finality. The CIT(A)'s deletion of the addition was upheld.

What were the facts?

The Assessing Officer (AO) made an addition of Rs. 6,96,10,000/- under Section 68 of the Income Tax Act, 1961, treating advance receipts as undisclosed income. The assessee argued that the original assessment was completed before the search, and no incriminating material was found.

What were the issues?

Whether additions can be made under Section 153C/153A when no incriminating material is found during a search and the original assessment is already concluded? Whether the CIT(A) erred in deleting the addition by admitting additional evidence?

Which sections of the Income-tax Act were involved?

Section 68,Section 153C,Section 153A

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Cases cited in this judgment(30)Show list

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Income Tax Appellate Tribunal, DELHI BENCH ‘E’, NEW DELHI

For Respondent: Smt. Shefali Swroop, CIT DR
Hearing: 06.02.2018Pronounced: 27.02.2018

Heard together (2 matters)

ITA No. 3832/Del/2014
ITA No. 3833/Del/2014

Read from the judgment's own cause title. This page is filed under one of them.

Per N. K. Saini, AM: These two appeals by the department are directed against the separate orders each dated 25.04.2014 of ld. CIT(A)-XII, New Delhi.

2.

Since, the common issues are involved and the appeals were heard together so these are being disposed off by this consolidated order for the sake of convenience and brevity.

3.

At the first instance, we will deal with the appeal in ITA No. 3832/Del/2014 for the assessment year 2005-06. Following grounds have been raised in this appeal:

“1. On the facts and in the circumstances of the case, the CIT(A) has erred in deleting the addition of Rs. 6,96,10,000/- made by AO u

The order continues below.

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