2023 (10) TMI 1447 - HC - Income Tax

Assessment u/s 153C - Whether no incriminating material had been found? - HELD THAT - As no incriminating material was found pursuant to the search carried out u/s 132 against the Surya Vinayak Group, which included the assessee, concerning the aforementioned AYs. Notably, the decision of the coordinate bench of this court in Kabul Chawla 2015 (9) TMI 80 - DELHI HIGH COURT has been affirmed by the Supreme Court in Principal of Income Tax vs. Abhisar Buildwell 2023 (4) TMI 1056 - SUPREME COURT Given the aforesaid position, according to us, no substantial question of law arises for our consideration.

Summary

The High Court dismissed the appeals for AY 2006-07 and AY 2005-06 as no incriminating material was found during the search. The Tribunal's decision was based on the Kabul Chawla judgment, which was affirmed by the Supreme Court. The appellant did not dispute the lack of incriminating material. No substantial question of law arose, so the appeals were closed.