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TMI Blog2015 (10) TMI 1761X X X X Extracts X X X X X X X X Extracts X X X X ..... al before us, the revenue has made no grievance with regard to the impugned order of the Tribunal holding that in law the proceedings under Section 153A of the Act are without jurisdiction. This in view of the fact that no assessment were pending, so as to abate nor any incriminating evidence was found. Once it is not disputed by the revenue that the decision of this Court in Continental Warehousing Corporation (Nhava Sheva) Ltd. (supra) would apply to the present facts and also that there are no assessments pending on the time of the initiation of proceedings under Section 153A of the Act. The occasion to consider the issues raised on merits in the proposed questions becomes academic. No substantial question of law. - Decided against r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee had filed his return of income declaring an income of ₹ 9.61 lakhs. The return of income as filed by the respondent-assessee was processed under Section 143(1) of the Act. Admittedly, no notice under Section 143(2) of the Act has been issued. Thereafter on 5 January 2007, a search was conducted on the respondent-assessee under Section 132 of the Act. Consequent thereto, proceedings under Section 153A of the Act were initiated. During the assessment proceedings for A.Y. 2005-06, the Assessing Officer added an amount of ₹ 93.72 lakhs (declared as gifts) as being covered by Section 68 of the Act and an amount of ₹ 43.67 lakhs (accumulated profits of the lendor) out of ₹ 1.5 crores received as loan from one K.P. D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hout jurisdiction and therefore the addition made had to be deleted on the aforesaid ground. The impugned order also thereafter considered the issues on merits and on it also held in favour of the respondent-assessee. 6. Mr. Kotangale, the learned Counsel for the revenue very fairly states that the decision of the Special Bench of the Tribunal in AlCargo Global Logistics Ltd. was a subject matter of challenge before this Court as a part of the group of appeals disposed of as CIT Vs. Continental Warehousing Corporation (Nhava Sheva) Ltd. 374 ITR 645 upholding the view of the Special Bench of the Tribunal in AlCargo Global Logistics Ltd. Consequently, once an assessment has attained finality for a particular year i.e. it is not pending the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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