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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 ..... APPELLANT : SRI JEEVAN J.NEERALGI, ADV., JUDGMENT The present appeals filed by the Revenue pertain to the assessment years 2005-06, 2006-07, 2007-08 and 2008-09. The facts leading to this case are that for the relevant assessment years 2005-06 and 2006-07, the assessment had been completed under Section 143(3) of the Income Tax Act, 1961 (for short 'Act') whereas for the remaining asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ner, which were allowed, after concluding that no incriminating documents were found during the course of search, on the basis of which additions had been made by the Assessing Officer. It was also observed by the Appellate Commissioner that the books of account maintained by the assessee were not rejected by the Assessing Officer. Aggrieved by the same, the Revenue filed an appeal before the Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s as well as Sri S. Parthasarathi, learned counsel appearing along with Sri Mallaha Rao and Jinita Chaterjee, for the respondent, and perused the record. 4. There is a specific finding of fact recorded by the Tribunal, as well as the Appellate Commissioner, that there were no incriminating documents found during the course of search, on the basis of which the additions have been made by the Asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t were maintained by the assessee, which were duly audited. 6. In our view, if assessment is allowed 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 a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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