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TMI Blog2016 (6) TMI 50X X X X Extracts X X X X X X X X Extracts X X X X ..... lowance of the claimed deduction under sec. 80IB of the Act questioned in the remaining ground has thus become infructuous. - Decided in favour of assessee - ITA No. 1758/Del/2014 - - - Dated:- 27-4-2016 - SHRI I.C. SUDHIR AND SHRI O.P. KANT For The Assessee : S/Shri Salil Aggarwal, Shailesh Gupta and Shankalp Sharma, Adv. For The Department : Smt. Rishpal Bedi, Sr. DR ORDER PER I.C. SUDHIR: JUDICIAL MEMBER The assessee has questioned first appellate order on several grounds raising the issue as to whether the Learned CIT(Appeals) was justified in sustaining a disallowance of ₹ 4,91,404 on account of deduction claimed under sec. 80IB of the Income-tax Act, 1961 in an assessment made under sec. 153A/143(3) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... page Nos. 1 to 4 of the paper book. He submitted that search and seizure operation in Sudhir Group of Cases was thereafter conducted on 10.2.2010 and notice under sec. 153A of the Act was issued to the assessee. In response the assessee filed its return of income at ₹ 3,02,83,247 on which the earlier assessments were framed. In the assessment framed under sec. 153A/143(3), the Assessing Officer has disallowed the claimed deduction under sec. 80IB at ₹ 4,91,404 which has been upheld by the Learned CIT(Appeals). 4. The Learned Senior DR on the other hand opposed the appeal with this contention that the authorities below have rightly disallowed the claimed deduction on scrap sales since it was not derived from the manufacturing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esponse they adopted the above arguments advanced by them. 7. We find that there is no dispute on the fact that in the assessment framed under sec. 143(3) of the Act on 15.12.2006 and in the reassessment framed under sec. 147/143(3) of the Act framed on 30.11.2009, the Assessing Officer had allowed the claimed deduction under sec. 80IB of the Act. These assessments were framed well before the date of search i.e. conducted on 10.2.2010 in Sudhir Group of Cases. In other words, on the date of search, no assessment was pending. It is also an undisputed fact that no incriminating material leading to the disallowance of the claimed deduction was unearthed during the course of search to say that incriminating material was found during the cour ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessment powers in respect of the six years previous to the relevant AY in which the search takes place. The AO has the power to assess and reassess the 'total income' of the aforementioned six years in separate assessment orders for each of the six years. In other words there will be only one assessment order in respect of each of the six AYs in which both the disclosed and the undisclosed income would be brought to tax . iv. Although Section 153 A does not say that additions should be strictly made on the basis of evidence found in the course of the search, or other post-search material or information available with the AO which can be related to the evidence found, it does not mean that the assessment can be arbitrary or ma ..... X X X X Extracts X X X X X X X X Extracts X X X X
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