Forgot password
New User/ Regiser
⇒ Register to get Live Demo
2017 (10) TMI 167 - ITAT MUMBAI
Legally u/s.153A/153C - Held that:- Assessments have become final and there were no pending proceedings, therefore the assessments are unabated as no incriminating material was found. In such cases no addition could be made legally u/s.153A/153C of the Act unless there was some incriminating material found during the course of search.
As observed by us in the above paras there is nothing on record/Assessment Orders to suggest that the additions were made based on any specific incriminating material seized during the course of the search. Hence, following the decisions of the Hon'ble Jurisdictional High Court in the case of CIT v. Continental Warehousing Corporation (Nhava Sheva) Ltd. (2015 (5) TMI 656 - BOMBAY HIGH COURT) we hold that the additions made while competing the assessments u/s. 153A/153C cannot be sustained.