REENA ENGINEERS AND CONTRACTORS PRIVATE LTD,PANAJI vs. ACIT, CENTRAL CIRCLE-1, CALICUT

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ITA 266/COCH/2021Status: DisposedITAT Cochin07 November 2024AY 2011-2012Bench: SHRI SATBEER SINGH GODARA (Judicial Member), SHRI AMARJIT SINGH (Accountant Member)3 pages

In favour of the assessee: the assessee's appeal was allowed. From the AI summary of this appeal.

AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that for unabated assessment years, additions under section 153A must be based on seized material. Since no such additions were made, the assessments themselves were deemed invalid.

What were the facts?

The assessee's appeals for AY 2010-11 and 2011-12 were filed against assessment orders passed under section 153A r.w.s. 143(3). The lower authorities did not make any additions based on seized material found during a search.

What were the issues?

The primary issue was the validity of assessments made under section 153A when no additions were made based on seized material in unabated assessment years.

Which sections of the Income-tax Act were involved?

Section 153A,Section 143(3)

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(1)Show list

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Income Tax Appellate Tribunal, COCHIN BENCH : COCHIN

Before: SHRI SATBEER SINGH GODARA & SHRI AMARJIT SINGH

Hearing: 21.08.2024Pronounced: 07.11.2024

These assessee’s twin appeals ITA.Nos.265 & 266/COCH./2021, for the assessment years 2010-2011 & 2011- 2012, arise against the CIT(A)-3, Kochi, Kochi’s common order in Appeal No. ITA.52-58/C/CIT(A)-III/2017-18, dated 25.10.2021, in proceedings u/sec.143(3) r.w.s.153A of the Income Tax Act, 1971 (in short the "Act"); respectively.

2 ITA.Nos.265 & 266/COCH./2021 Heard both the parties. Case files perused.

2.

It emerges during the course of hearing at the outset that there arises the first and foremost legal issue before us question of validity of the impugned sec.153A r.w.s.143(3) assessments itself once both the learned lower authorities have not made any addition based on the seized material traced during the course of search herein dated 10.06.2015. We wish to make it clear that both these assessment years before us assessment years 2010-2011 & 2011-2012 are “unabated” ones and therefore, case law sPCIT vs. Abhisar Buildwell P. Ltd., [2023] 454 ITR 212 (SC) has settled the issue in assessee’s favour and against the department that any such addition has to be based on seized material only. We thus accept the assessee’s instant first and foremost legal ground in very terms. Ordered accordingly.

All other pleadings on merits stand rendered academic.

3.

These assessee’s twin appeals ITA.Nos.265 & 266/COCH./2021 are allowed in above terms. A copy of this common order be placed in the respective case files.

3 ITA.Nos.265 & 266/COCH./2021 Order pronounced in the open Court on 07.11.2024.

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