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TMI Blog2016 (9) TMI 745X X X X Extracts X X X X X X X X Extracts X X X X ..... he impugned order does not require any interference on our part - Decided in favour of assessee - ITA No. 2598/Del/2014 - - - Dated:- 5-8-2016 - SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI ANADI N. MISHRA, ACCOUNTANT MEMBER For The Appellant : Ms. Deepika Mittal, CIT(DR) For The Respondent : None ORDER This appeal is filed the Revenue against the Order dated 17.2.2014 passed by the Ld.CIT(A)-IV, New Delhi for Assessment Year 2006-07 on the following grounds: 1. That the CIT(A) has erred in law and on facts of the case in treating the addition made to be beyond the scope of section 153A of the I.T. Act. 2. That the CIT(A) erred in law and on facts of the case in holding that the original assessment cannot be d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to file the return of income. The assessee filed return of income on 03.07.2009 declaring nil income. Thereafter, notice u/s 143(2)/142(1) along with the questionnaire was issued by the AO on 13.08.2010 in which the Ld. AO has asked the assessee to explain the contents of certain pages seized during the search on 27.08.2008. In response to the same, the assessee filed the reply and participated in the assessment proceedings. Ld. AO completed the assessment u/s. 153A read with section 143(3) of the I.T. Act, 1961 vide his order dated 28.12.2010 and made the addition of ₹ 46,24,000/- u/s. 68 of the I.T. Act, 1961 as unexplained investment in the share application money. Aggrieved with the order of the Assessing Officer, assessee preferr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r dated 29.12.2012. iii) Mumbai ITAT Bench in the case of Gurinder Singh Bawa vs. DCIT (2012) Taxmann.com 328. iv) ITAT, Delhi Bench decision in the case of Kusum Gupta vs. DCIT (ITA No. 4873/Del/2009, 2510, 2532, 2833/Del/2011) vide order dated 28.3.2013. In this case it was held that addition on account of alleged non-genuine gifts could not be made in the assessments made u/s. 153A when no incriminating materials was recovered or statement was recorded during the course of search suggesting non-genuineness of the claimed gifts. 3.1 Ld. CIT(A) further observed that Hon ble Rajasthan High Court in the case of Jai Steel (India) vs. ACIT (2013) 259 CTR 281 has held that where nothing incriminating is found during search, though Sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... place under Section 132 of the Act, notice under Section 153 A (1) will have to be mandatorily issued to the person searched requiring him to file returns for six Ays immediately preceding the previous year relevant to the AY in which the search takes place. ii. Assessments and reassessments pending on the date of the search shall abate. The total income for such AYs will have to be computed by the AOs as a fresh exercise. iii. The AO will exercise normal assessment 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 t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... course of search or requisition of documents or undisclosed income or property discovered in the course of search which were not produced or not already disclosed or made known in the course of original assessment. 38. The present appeals concern AYs, 2002-03, 2005-06 and 2006- 07.On the date of the search the said assessments already stood completed. Since no incriminating material was unearthed during the search, no additions could have been made to the income already assessed. 3.2.1 We further find that issue is also covered by decision of Honorable jurisdictional High Court in the case of Principal Commissioner of Income Tax v/s. Kurele Paper Mills P. Ltd. 380 ITR 571 (Delhi) . Honourable Supreme Court has dismissed the Special ..... X X X X Extracts X X X X X X X X Extracts X X X X
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