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TMI Blog2014 (7) TMI 859X X X X Extracts X X X X X X X X Extracts X X X X ..... e of depreciation on motor-car, mobile phone and computers as personal in nature to the extent of 25%. Since in all the appeals, common issues are raised, all the appeals are taken up together for adjudication. 2. The facts in brief are: The assessee is a film director. A search operation was conducted u/s.132 of the of the Income Tax Act, 1961 (herein after referred to as 'the Act') on 19-01-2010 in the residential premises of the assessee at Shyamala Garden, Arcot Road, Saligramam, Chennai-93 and survey u/s.133A at the office premises at 1B, Sowmitri Apartments, 18/4, 19th Avenue, Ashok Nagar, Chennai. Notice u/s.142 r.w.s. 153A was issued to the assessee for all the six AYs i.e., from 2004-05 to 2009-10. The assessee asked the Assessing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eason or justification. The original assessments for the respective AYs were completed u/s.143(1) and at the time of search, no assessment for the impugned AYs was pending. No incriminating material was found during the search. Therefore, the addition made by the authorities below is not tenable. In order to support his submissions, the ld.Counsel placed reliance on the decision of the co-ordinate Bench of the Tribunal in the case of A.B.S.Sanjjay Vs. ACIT in ITA Nos.1691, 1692 & 1693/Mds/2013 decided on 24-01-2014. 4. On the other hand, Shri S.Das Gupta, appearing on behalf of the Revenue vehemently supported the impugned order and prayed for dismissal of the appeals of the assessee. 5. We have heard the submissions made by the represent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... reported as 88 DTR (Raj) 1 and deleted the additions made on similar grounds. 6. The Hon'ble High Courts and different benches of the Tribunal have been consistently taking a view that in case nothing incriminating is found on account of search of requisition, the question of re-assessment of the concluded assessment does not arise. Now, it is a well settled law that re-assessment of the concluded assessment is permitted in assessment u/s.153A only if incriminating material are found in the course of search. In the present case, we do not find either from the assessment order or from the order of the First Appellate Authority that any incriminating material was found during search operation so as to dis-allow expenditure. We find merit in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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