2014 (6) TMI 995

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..... d that assessment was done on the basis of the estimated income. It was found again that there is no incriminating material and in the course of search, no books of accounts and vouchers were found and it was admitted that the M.D. consequent to the completion of the assessments, the relevant books of accounts and vouchers were shifted to a godown and they were not able to locate the relevant book .....

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..... hat the AO has no jurisdiction for assessing the income of the assessee? 2. Whether the ITAT was correct in observing that search assessments cannot be done without incriminating materials? The judgment of the learned Tribunal was rendered covering the following assessment years 2004-05 and 2010-11. However, the point, which is raised in this appeal relates to the assessment year 2006-07. We h .....

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..... ise the jurisdiction under Section 153-C of the Income Tax Act, 1961. The learned Tribunal, on appreciation of fact, correctly concluded that such exercise was not called for. We, therefore, do not find any infirmity for differing with the impugned judgment and order of the learned Tribunal. The appeal is accordingly dismissed. Consequently, the miscellaneous petitions, if any pending, shall al .....

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