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“incriminating material”

Search & SeizureSection 153ASection 153A8,981 judgments

The decision most relied on for incriminating material is CIT v. Kabul Chawla (380 ITR 573), cited in 3,235 judgments on BharatTax.

Leading authorities on incriminating material

CIT v. Kabul Chawla
380 ITR 573 · 2016 · High Court
3,235
citing judgments

In a search assessment under Section 153A, additions can only be made for completed or non-abated assessment years if incriminating material relevant to those years is found during the search, although notice under Section 153A(1) is mandatorily issued for six assessment years preceding the search.

Pr. CIT v. Abhisar Buildwell (P.) Ltd.
149 Taxmann.com 399 · 2023 · Supreme Court
2,379
citing judgments

An assessment under section 153A is without jurisdiction if there is an absence of incriminating material for an unabated assessment year.

CIT v. Sinhgad Technical Education Society
397 ITR 344 · 2017 · Supreme Court
1,589
citing judgments

For assessments under Section 153C, a notice is legally unsustainable if there is no incriminating material correlated to the specific assessment years for which reassessment is sought.

Pr. CIT v. Meeta Gutgutia
395 ITR 526 · 2017 · High Court
1,226
citing judgments

In search assessments under Section 153A, additions to income are permissible only if incriminating material is found during the search; in the absence of such material, completed assessments cannot be disturbed. A statement recorded under Section 132(4) and later retracted may not, on its own, constitute sufficient incriminating evidence for making additions.

All Cargo Global Logistics Ltd. v. DCIT
137 ITD 287 · 2012 · ITAT
907
citing judgments

In non-abated assessments, the Assessing Officer can make additions under section 153A based on books of accounts or documents found during a search but not produced during the original assessment, provided such material is incriminating.

PCIT v. Best Infrastructure (India) (P.) Ltd.
397 ITR 82 · 2017 · High Court
786
citing judgments

A statement recorded under Section 132(4) of the Income Tax Act, 1961, does not by itself constitute incriminating material for making additions to income.

CIT v. RRJ Securities Ltd.
380 ITR 612 · 2016 · High Court
689
citing judgments

Completed assessments can be interfered with under Section 153A or 153C only on the basis of incriminating material unearthed during the search, necessitating a direct correlation between the discovered material and the power to assess or reopen concluded assessments.

Pr. CIT v. Saumya Constructions (P.)Ltd.
387 ITR 529 · 2016 · High Court
670
citing judgments

Assessments under Section 153A cannot be sustained without any incriminating material found during the search that substantiates the additions. This principle applies even to completed assessments where no additional income is disclosed.

Judgments citing incriminating material

Emaar Mgf Land Ltd., New Delhi vs. ACIT, Central Circle- 2, New Delhi

In the result the appeals of the assessee are allowed and the appeals of the revenue are dismissed

ITA 828/DEL/2018[2013-14]Status: DisposedITAT Delhi30 May 2024AY 2013-14

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharma

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Shri T. James Singson, CIT,DR
Section 143(2)Section 14ASection 153ASection 153D

erred in not appreciating that this is a case of 'completed assessment and in the absence of any incriminating material qua each issue, the said additions are illegal and liable to be deleted. 4. That, on the facts and circumstances of the case and in law, the AO has erred ... appreciating that no incriminating material has been found for the year under consideration which belongs to the said year, and hence the said additions are illegal and liable to be deleted. 5. That, on the facts and circumstances of the case and in law, the approval under Section 153D

Emaar Mgf Land Ltd., New Delhi vs. ACIT, Central Circle- 2, New Delhi

In the result the appeals of the assessee are allowed and the appeals of the revenue are dismissed

ITA 827/DEL/2018[2012-13]Status: DisposedITAT Delhi30 May 2024AY 2012-13

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharma

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Shri T. James Singson, CIT,DR
Section 143(2)Section 14ASection 153ASection 153D

erred in not appreciating that this is a case of 'completed assessment and in the absence of any incriminating material qua each issue, the said additions are illegal and liable to be deleted. 4. That, on the facts and circumstances of the case and in law, the AO has erred ... appreciating that no incriminating material has been found for the year under consideration which belongs to the said year, and hence the said additions are illegal and liable to be deleted. 5. That, on the facts and circumstances of the case and in law, the approval under Section 153D

Emaar Mgf Land Ltd., New Delhi vs. ACIT, Central Circle- 2, New Delhi

In the result the appeals of the assessee are allowed and the appeals of the revenue are dismissed

ITA 826/DEL/2018[2011-12]Status: DisposedITAT Delhi30 May 2024AY 2011-12

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharma

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Shri T. James Singson, CIT,DR
Section 143(2)Section 14ASection 153ASection 153D

erred in not appreciating that this is a case of 'completed assessment and in the absence of any incriminating material qua each issue, the said additions are illegal and liable to be deleted. 4. That, on the facts and circumstances of the case and in law, the AO has erred ... appreciating that no incriminating material has been found for the year under consideration which belongs to the said year, and hence the said additions are illegal and liable to be deleted. 5. That, on the facts and circumstances of the case and in law, the approval under Section 153D

Emaar Mgf Land Ltd., New Delhi vs. ACIT, Central Circle- 2, New Delhi

In the result the appeals of the assessee are allowed and the appeals of the revenue are dismissed

ITA 825/DEL/2018[2010-11]Status: DisposedITAT Delhi30 May 2024AY 2010-11

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharma

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Shri T. James Singson, CIT,DR
Section 143(2)Section 14ASection 153ASection 153D

erred in not appreciating that this is a case of 'completed assessment and in the absence of any incriminating material qua each issue, the said additions are illegal and liable to be deleted. 4. That, on the facts and circumstances of the case and in law, the AO has erred ... appreciating that no incriminating material has been found for the year under consideration which belongs to the said year, and hence the said additions are illegal and liable to be deleted. 5. That, on the facts and circumstances of the case and in law, the approval under Section 153D

ACIT, Central Circle- 2, New Delhi vs. Emaar Mgf Land Ltd., New Delhi

In the result the appeals of the assessee are allowed and the appeals of the revenue are dismissed

ITA 1000/DEL/2018[2015-16]Status: DisposedITAT Delhi30 May 2024AY 2015-16

Bench: Shri G.S. Pannu, Hon’Ble & Shri Anubhav Sharma

For Appellant: Shri Salil Kapoor, AdvocateFor Respondent: Shri T. James Singson, CIT,DR
Section 143(2)Section 14ASection 153ASection 153D

erred in not appreciating that this is a case of 'completed assessment and in the absence of any incriminating material qua each issue, the said additions are illegal and liable to be deleted. 4. That, on the facts and circumstances of the case and in law, the AO has erred ... appreciating that no incriminating material has been found for the year under consideration which belongs to the said year, and hence the said additions are illegal and liable to be deleted. 5. That, on the facts and circumstances of the case and in law, the approval under Section 153D

Mahesh D.Tekchandani, Ahmedabad vs. The Income Tax Officer, Ward-3(3)(3), Ahmedabad

In the result, the appeal of the assessee is allowed

ITA 1028/AHD/2023[2012-13]Status: DisposedITAT Ahmedabad29 May 2024AY 2012-13

Bench: Mrs. Annapurna Gupta & Shri Siddhartha Nautiyalिनधा"रण वष"/Assessment Year: 2012-13 Vs. Mahesh Tekchandani, Income-Tax Officer, 67, Shivalik Bungalows, Ward-3(3)(3), Satellite, Ahmedabad-380015 Ahmedabad Pan : Aespt 5350 A अपीलाथ" अपीलाथ"/ (Appellant) अपीलाथ" अपीलाथ" "" "" यथ" "" "" यथ" यथ"/ (Respondent) यथ" Assessee By : Shri S.N. Divatia, Ar Revenue By : Shri Yogesh Mishra, Sr Dr तारीख/Date Of Hearing : 02.05.2024 सुनवाई क" क" तारीख सुनवाई सुनवाई सुनवाई क" क" तारीख तारीख घोषणा क" क" तारीख तारीख /Date Of Pronouncement: 29.05.2024 घोषणा घोषणा घोषणा क" क" तारीख तारीख आदेश/O R D E R आदेश आदेश आदेश Per Siddhartha Nautiyal: This Appeal Has Been Filed By The Assessee Against The Order Of The Learned Commissioner Of Income-Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [Hereinafter Referred To As "Cit(A)" For Short] Dated 20.10.2023, Passed Under Section 250 Of The Income Tax Act, 1961 [Hereinafter Referred To As "The Act" For Short], For The Assessment Year (Ay) 2012-13. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1.1 The Order Passed By U/S.250 Passed On 20.10.2023 By Cit(A)-Nfac Delhi Upholding The Addition Of Rs.28,72,000/- Made By A.O. Is Wholly Illegal, Unlawful & Against The Principles Of Natural Justice. 1.2 The Ld. Cit(A) Has Failed To Appreciate That The First Payment By Cheque Was Made On 03.02.2014 & The Final Purchase Deed Was Executed In Fy 2018-19. But No Evidence Pointed Out By Ao To Prove That The Alleged Cash Payment Was Made During The Previous Year Relevant To A.Y. 2012-13. 2 Mahesh D. Tekchandani Vs. Ito Ay : 2012-13

For Appellant: Shri S.N. Divatia, ARFor Respondent: Shri Yogesh Mishra, Sr DR
Section 132Section 143(3)Section 153ASection 153CSection 250

Delhi) in ITA 2430/Del/2015 dated 20.05.2016, the Tribunal observed that where the Assessing Officer detects 7 Mahesh D. Tekchandani Vs. ITO AY : 2012-13 incriminating material in search, he has to proceed only u/s 153C and not u/s 147. A notice u/s.148 to assess such undisclosed income is void

Inder Chand Bajaj, Delhi vs. DCIT, Central Circle-32, Delhi

In the result, the Appeal of the Assessee is allowed

ITA 2871/DEL/2022[2014-15]Status: DisposedITAT Delhi29 May 2024AY 2014-15

Bench: Shamim Yahya & Sh. Yogesh Kumar U.S.Ita No. 2871/Del/2022, (A.Y. 2014-15)

Section 124Section 142(1)Section 143(2)Section 153A

assessee that the learned AO has erred making the addition in order passed u/s 153A r.w.s 143(3) of the Act, without an incriminating material having been found during the course of search. 12. (i) On the facts and circumstances of the case, the learned CIT(A) has erred, both ... Ground that the addition made u/s 153A read with 8 Inder Chand Bajaj Vs. DCIT Section 143(3) of the Act without any incriminating material having been found during the course of search. However, since the Assessee has not appeared, the Ld. CIT(A) dismissed the Appeal filed

M/S B.L. Foundry Pvt. Ltd., Delhi vs. DCIT, Central Circle, Karnal

In the result, appeal of the assessee is allowed

ITA 1582/DEL/2023[2016-17]Status: DisposedITAT Delhi28 May 2024AY 2016-17

Bench: Ms. Madhumita Roy & Sh. Avdhesh Kumar Mishra

For Appellant: Shri Nitin Kanwar, AdvFor Respondent: Shri Binod Kumar, CIT-D.R
Section 115JSection 127Section 132Section 133ASection 139Section 143(1)Section 143(2)Section 143(3)Section 153ASection 250(6)

argued on the maintainability of the proceeding to this effect that the impugned additions were made though under Section 153A of the Act, no incriminating material was found for ITA Nos.1579, 1580, 1581 & 1582/Del/2023 B. L. Foundry Pvt. Ltd.. vs. CIT Asst.Years ... year under consideration. While making addition no reference of incriminating material has been made by the Assessing Officer as also stated by him. Therefore, if no incriminating material is unearthed the same tantamount of abuse of the process of law. The very reason to belief forming the basis of search

M/S B.L. Foundry Pvt. Ltd., Delhi vs. DCIT, Central Circle, Karnal

In the result, appeal of the assessee is allowed

ITA 1581/DEL/2023[2015-16]Status: DisposedITAT Delhi28 May 2024AY 2015-16

Bench: Ms. Madhumita Roy & Sh. Avdhesh Kumar Mishra

For Appellant: Shri Nitin Kanwar, AdvFor Respondent: Shri Binod Kumar, CIT-D.R
Section 115JSection 127Section 132Section 133ASection 139Section 143(1)Section 143(2)Section 143(3)Section 153ASection 250(6)

argued on the maintainability of the proceeding to this effect that the impugned additions were made though under Section 153A of the Act, no incriminating material was found for ITA Nos.1579, 1580, 1581 & 1582/Del/2023 B. L. Foundry Pvt. Ltd.. vs. CIT Asst.Years ... year under consideration. While making addition no reference of incriminating material has been made by the Assessing Officer as also stated by him. Therefore, if no incriminating material is unearthed the same tantamount of abuse of the process of law. The very reason to belief forming the basis of search

M/S B.L. Foundry Pvt. Ltd., Delhi vs. Deputy Commissioner of Icome Tax, Central Circle, Karnal

In the result, appeal of the assessee is allowed

ITA 1580/DEL/2023[2014-15]Status: DisposedITAT Delhi28 May 2024AY 2014-15

Bench: Ms. Madhumita Roy & Sh. Avdhesh Kumar Mishra

For Appellant: Shri Nitin Kanwar, AdvFor Respondent: Shri Binod Kumar, CIT-D.R
Section 115JSection 127Section 132Section 133ASection 139Section 143(1)Section 143(2)Section 143(3)Section 153ASection 250(6)

argued on the maintainability of the proceeding to this effect that the impugned additions were made though under Section 153A of the Act, no incriminating material was found for ITA Nos.1579, 1580, 1581 & 1582/Del/2023 B. L. Foundry Pvt. Ltd.. vs. CIT Asst.Years ... year under consideration. While making addition no reference of incriminating material has been made by the Assessing Officer as also stated by him. Therefore, if no incriminating material is unearthed the same tantamount of abuse of the process of law. The very reason to belief forming the basis of search

M/S B.L. Foundry Pvt. Ltd., New Delhi vs. DCIT, Central Circle, Karnal

In the result, appeal of the assessee is allowed

ITA 1579/DEL/2023[2013-14]Status: DisposedITAT Delhi28 May 2024AY 2013-14

Bench: Ms. Madhumita Roy & Sh. Avdhesh Kumar Mishra

For Appellant: Shri Nitin Kanwar, AdvFor Respondent: Shri Binod Kumar, CIT-D.R
Section 115JSection 127Section 132Section 133ASection 139Section 143(1)Section 143(2)Section 143(3)Section 153ASection 250(6)

argued on the maintainability of the proceeding to this effect that the impugned additions were made though under Section 153A of the Act, no incriminating material was found for ITA Nos.1579, 1580, 1581 & 1582/Del/2023 B. L. Foundry Pvt. Ltd.. vs. CIT Asst.Years ... year under consideration. While making addition no reference of incriminating material has been made by the Assessing Officer as also stated by him. Therefore, if no incriminating material is unearthed the same tantamount of abuse of the process of law. The very reason to belief forming the basis of search

Sadashiv Nivrutti Navale, Solapur vs. Deputy Commissioner of Income-Tax, Central Circle -2 (2), Pune

In the result, both the appeals filed by the assessee are dismissed

ITA 455/PUN/2019[2013-14]Status: DisposedITAT Pune27 May 2024AY 2013-14

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2012-13

For Appellant: Shri Suhas BoraFor Respondent: Shri Sourabh Nayak, Addl.CIT
Section 132Section 143(2)Section 147Section 148

members of the Navale family has deposited large amount of cash in various bank accounts. Since for impugned assessment year i.e. 2012-13 no incriminating material was seized, the case of the assessee was reopened u/s 147 of the Act due to large cash was deposited in assessee’s bank

Prashant Vithoba Navale, Solapur vs. Deputy Commissioner of Income-Tax, Central Circle -2(2), Pune

In the result, both the appeals filed by the assessee are dismissed

ITA 323/PUN/2019[2012-13]Status: DisposedITAT Pune27 May 2024AY 2012-13

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2012-13

For Appellant: Shri Suhas BoraFor Respondent: Shri Sourabh Nayak, Addl.CIT
Section 132Section 143(2)Section 147Section 148

members of the Navale family has deposited large amount of cash in various bank accounts. Since for impugned assessment year i.e. 2012-13 no incriminating material was seized, the case of the assessee was reopened u/s 147 of the Act due to large cash was deposited in assessee’s bank

ACIT, Central Circle-3(3), Hyderabad vs. Venkata Praneeth Developers Private Limited, Hyderabad

The appeal of the assessee is dismissed

ITA 339/HYD/2022[2020-21]Status: DisposedITAT Hyderabad27 May 2024AY 2020-21

Bench: Shri Laliet Kumar & Shri Manjunatha, G.आ.अपी.सं /Ita No. 279/Hyd/2022 (िनधा"रण वष" / Assessment Year: 2020-21) Venkata Praneeth Vs. Acit Developers (P) Ltd, Central Circle 3(3) Hyderabad Hyderabad Pan:Aaccv4975A (Appellant) (Respondent) आ.अपी.सं /Ita No. 339/Hyd/2022 (िनधा"रण वष" / Assessment Year: 2020-21) Acit Vs. Venkata Praneeth Central Circle 3(3) Developers (P) Ltd, Hyderabad Hyderabad Pan:Aaccv4975A (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri Ravi Bharadwaj, Ca राज" व "ारा/Revenue By:: Shri Kumar Pranav, Dr सुनवाई की तारीख/Date Of Hearing: 06/05/2024 घोषणा की तारीख/Pronouncement: 27/05/2024

For Appellant: Shri Ravi Bharadwaj, CAFor Respondent: : Shri Kumar Pranav, DR
Section 132Section 139(1)Section 143(2)Section 143(3)

conclusive and it is open to the assessee to show that it is incorrect. Therefore, the assessee retracted admission, in absence of any incriminating material and any affidavit was filed to that effect in the investigation of the Revenue. In this regard, the learned Counsel for the assessee relied ... purpose of making the addition in the hands of the assessee, it is essential that the Assessing Officer should brought on record some incriminating material to show the escapement of income or non-disclosure of the income by the assessee. The addition cannot be made by the Assessing Officer merely

Venkata Praneeth Developers Private Limited, Hyderabad vs. ACIT Central Circle-3(3), Hyderabad

The appeal of the assessee is dismissed

ITA 279/HYD/2022[2020-21]Status: DisposedITAT Hyderabad27 May 2024AY 2020-21

Bench: Shri Laliet Kumar & Shri Manjunatha, G.आ.अपी.सं /Ita No. 279/Hyd/2022 (िनधा"रण वष" / Assessment Year: 2020-21) Venkata Praneeth Vs. Acit Developers (P) Ltd, Central Circle 3(3) Hyderabad Hyderabad Pan:Aaccv4975A (Appellant) (Respondent) आ.अपी.सं /Ita No. 339/Hyd/2022 (िनधा"रण वष" / Assessment Year: 2020-21) Acit Vs. Venkata Praneeth Central Circle 3(3) Developers (P) Ltd, Hyderabad Hyderabad Pan:Aaccv4975A (Appellant) (Respondent) िनधा""रती "ारा/Assessee By: Shri Ravi Bharadwaj, Ca राज" व "ारा/Revenue By:: Shri Kumar Pranav, Dr सुनवाई की तारीख/Date Of Hearing: 06/05/2024 घोषणा की तारीख/Pronouncement: 27/05/2024

For Appellant: Shri Ravi Bharadwaj, CAFor Respondent: : Shri Kumar Pranav, DR
Section 132Section 139(1)Section 143(2)Section 143(3)

conclusive and it is open to the assessee to show that it is incorrect. Therefore, the assessee retracted admission, in absence of any incriminating material and any affidavit was filed to that effect in the investigation of the Revenue. In this regard, the learned Counsel for the assessee relied ... purpose of making the addition in the hands of the assessee, it is essential that the Assessing Officer should brought on record some incriminating material to show the escapement of income or non-disclosure of the income by the assessee. The addition cannot be made by the Assessing Officer merely

DCIT CC-2(3), Mumbai vs. Avinash Nivrutti Bhosale, Pune

ITA 541/MUM/2024[2009]Status: DisposedITAT Mumbai27 May 2024

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Bledcit – Central Circle – 2(3) V. Avinash Bhosale Infrastructure Pvt. Ltd., 2, Abil House, Ganesh Khind Road 8Th Floor, Room No. 803 Pune City, Pune – 411007 Old Cgo Bldg, Pratishtha Bhavan M.K. Road, Mumbai - 400020 Pan: Aabca5452C (Appellant) (Respondent)

Section 143(3)Section 271(1)(c)Section 56(2)(viib)

amounting to Rs.23,70,00,000/- despite the fact that the original assessment u/s 143(3) was completed vide order dated 23.12.2016 and no incriminating material was found or seized during the course of search so as to revisit the assessment originally completed u/s.143 ... facts and circumstances of the case and in law, the Ld. CIT (A) erred in holding the valuation report as incriminating material found during the course of search despite the fact that the said valuation report was already submitted to AO in the course of original assessment proceedings and thus

DCIT CC -2(3), Mumbai vs. Avinash Nivrutti Bhosale, Pune

ITA 540/MUM/2024[2011]Status: DisposedITAT Mumbai27 May 2024

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Bledcit – Central Circle – 2(3) V. Avinash Bhosale Infrastructure Pvt. Ltd., 2, Abil House, Ganesh Khind Road 8Th Floor, Room No. 803 Pune City, Pune – 411007 Old Cgo Bldg, Pratishtha Bhavan M.K. Road, Mumbai - 400020 Pan: Aabca5452C (Appellant) (Respondent)

Section 143(3)Section 271(1)(c)Section 56(2)(viib)

amounting to Rs.23,70,00,000/- despite the fact that the original assessment u/s 143(3) was completed vide order dated 23.12.2016 and no incriminating material was found or seized during the course of search so as to revisit the assessment originally completed u/s.143 ... facts and circumstances of the case and in law, the Ld. CIT (A) erred in holding the valuation report as incriminating material found during the course of search despite the fact that the said valuation report was already submitted to AO in the course of original assessment proceedings and thus

DCIT CC -2(3), Mumbai vs. Avinash Nivrutti Bhosale, Pune

ITA 539/MUM/2024[2015]Status: DisposedITAT Mumbai27 May 2024

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Bledcit – Central Circle – 2(3) V. Avinash Bhosale Infrastructure Pvt. Ltd., 2, Abil House, Ganesh Khind Road 8Th Floor, Room No. 803 Pune City, Pune – 411007 Old Cgo Bldg, Pratishtha Bhavan M.K. Road, Mumbai - 400020 Pan: Aabca5452C (Appellant) (Respondent)

Section 143(3)Section 271(1)(c)Section 56(2)(viib)

amounting to Rs.23,70,00,000/- despite the fact that the original assessment u/s 143(3) was completed vide order dated 23.12.2016 and no incriminating material was found or seized during the course of search so as to revisit the assessment originally completed u/s.143 ... facts and circumstances of the case and in law, the Ld. CIT (A) erred in holding the valuation report as incriminating material found during the course of search despite the fact that the said valuation report was already submitted to AO in the course of original assessment proceedings and thus

DCIT CC -2(3) Mumbai, Mumbai vs. Avinash Bhosale Infrastructure Pvt. Ltd., Pune

ITA 538/MUM/2024[2014]Status: DisposedITAT Mumbai27 May 2024

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Sandeep Singh Karhail, Hon'Bledcit – Central Circle – 2(3) V. Avinash Bhosale Infrastructure Pvt. Ltd., 2, Abil House, Ganesh Khind Road 8Th Floor, Room No. 803 Pune City, Pune – 411007 Old Cgo Bldg, Pratishtha Bhavan M.K. Road, Mumbai - 400020 Pan: Aabca5452C (Appellant) (Respondent)

Section 143(3)Section 271(1)(c)Section 56(2)(viib)

amounting to Rs.23,70,00,000/- despite the fact that the original assessment u/s 143(3) was completed vide order dated 23.12.2016 and no incriminating material was found or seized during the course of search so as to revisit the assessment originally completed u/s.143 ... facts and circumstances of the case and in law, the Ld. CIT (A) erred in holding the valuation report as incriminating material found during the course of search despite the fact that the said valuation report was already submitted to AO in the course of original assessment proceedings and thus

Aashiyana Buildmart Pvt. Ltd., Noida vs. DCIT, Central Circle, Noida

In the result, the appeal of the assessee is allowed

ITA 360/DEL/2019[2012-13]Status: DisposedITAT Delhi27 May 2024AY 2012-13

Bench: Shri Saktijit Dey & Shri M. Balaganeshaashiyana Buildmart Pvt. Ltd, Vs. Dcit, B-20, 21-22, G. B. Nagar, Central Circle, Sector-16, Noida Noida (Appellant) (Respondent) Pan:Aagca1134L Assessee By : Shri Sandeep Jain, Ca Revenue By: Ms. Subhra Jyoti Chakraborty, Cit Dr Date Of Hearing 27/03/2024 Date Of Pronouncement 27/05/2024

For Appellant: Shri Sandeep Jain, CAFor Respondent: Ms. Subhra Jyoti Chakraborty
Section 132Section 143(2)Section 143(3)Section 153ASection 153DSection 68

both in law and in facts in confirming addition on account of unsecured loan of Rs. 50,00,000/- despite the fact that no incriminating material or no undisclosed income or any evidence has been found during the search at the premises of the Appellant and therefore the addition under ... consideration is Aashiyana Buildmart Pvt. Ltd that whether any addition could be made in a completed assessment without the existence of any incriminating material found during the course of search? This issue is no longer res integra in view of the decision of the Hon'ble Supreme Court