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TMI Blog2016 (2) TMI 797X X X X Extracts X X X X X X X X Extracts X X X X ..... t, which is not permissible under the law. Merely because a search is conducted in the premises of the assessee, would not entitle the Revenue to initiate the process of reassessment, for which there is a separate procedure prescribed in the statute. It is only when the conditions prescribed for reassessment are fulfilled that a concluded assessment can be reopened. The very same accounts which were submitted by the assessee, on the basis of which assessment had been concluded, cannot be reappreciated by the Assessing Officer merely because a search had been conducted in the premises of the assessee. - Decided in favour of assessee - ITA NO.528/2014, C/W ITA NOs.529/2014, 530/2014, 531/2014 - - - Dated:- 15-12-2015 - MR. VINEET SARAN AND ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... account maintained by the assessee were not rejected by the Assessing Officer. Aggrieved by the same, the Revenue filed an appeal before the Tribunal, which was also dismissed. Challenging the same, these appeals are filed. The questions of law, as raised in leading appeal bearing ITA No. 528/2014, which are to be considered by us, are as under: i. Whether accounts in Tally copied and seized at the time of search do not come within the purview of 'material found during the course of search' as per the ratio of the decision of the special Bench of the Bangalore Tribunal in the case of All Cargo Global Logistics Ltd. v. CIT 18 ITR (Trib.) 106. ii. Whether the Hon'ble Tribunal was right in law in upholding the view that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llowed to be reopened on the basis of search, in which no incriminating material had been found, and merely on the basis of further investigating the books of account which had been already submitted by the assessee and accepted by the Assessing Officer at the time of regular assessment, the same would amount to the Revenue getting a second opportunity to reopen the concluded assessment, which is not permissible under the law. Merely because a search is conducted in the premises of the assessee, would not entitle the Revenue to initiate the process of reassessment, for which there is a separate procedure prescribed in the statute. It is only when the conditions prescribed for reassessment are fulfilled that a concluded assessment can be reo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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