9911796707
TMI Blog2018 (7) TMI 377X X X X Extracts X X X X X X X X Extracts X X X X ..... the undisclosed loans/advances which were surrendered by the assessee group for which some incriminating material was found. Be that as it may, it is apparent from the assessment order itself, as has been candidly admitted by the ld. DR as well, that there is no reference to any incriminating material in the assessment order qua these creditors/advances in respect of which addition made - decided in favour of assessee. X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee carried the matter to the learned first appellate authority. A remand report was called for from the Assessing Officer. After considering the relevant material, the ld. CIT(A) deleted the addition by observing that no incriminating material was found during the course of search. The Revenue has approached the Tribunal against such deletion of addition. 3. We have heard both the sides and perused the relevant material on record. It is seen that the search was conducted u/s 132 of the Act on 12.02.2012. The assessment year under consideration is 2007-08. Obviously, neither any assessment was pending at the time of search nor time was available for making assessment. In fact, the assessment in this case stood completed earlier u/s 143(3) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en, the total income would be determined by considering the originally determined income plus income emanating from the incriminating material found during the course of search'. That is how, the additions made u/s 2(22)(e), which were not based on any incriminating material found during the course of search, were held to be unsustainable in law and, hence, deleted. The Hon'ble High Court approved the view taken by the Tribunal. It summarized the legal position in para 37 of its judgment as under :- 'On a conspectus of Section 153A(1) of the Act, read with the provisos thereto, and in the light of the law explained in the aforementioned decisions, the legal position that emerges is as under: i. Once a search takes place under Secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. The word 'assess' in Section 153 A is relatable to abated proceedings (i.e. those pending on the date of search) and the word 'reassess' to completed assessment proceedings. vi. Insofar as pending assessments are concerned, the jurisdiction to make the original assessment and the assessment under Section 153A merges into one. Only one assessment shall be made separately for each AY on the basis of the findings of the search and any other material existing or brought on the record of the AO. vii. Completed assessments can be interfered with by the AO while making the assessment under Section 153 A only on the basis of some incriminating material unearthed during the course of search or requisition of documents or und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t. 7. The ld. DR controverted the finding returned by the ld.CIT(A) that no incriminating material was found during the course of search by referring to the remand report dated 14.12.2015 submitted by the Assessing Officer which has been incorporated on page 16 of the impugned order. She harped on the observations contained in such remand report : "In this connection it is submitted that during the search dated 12.01.2012, on the basis of seized documents (page 101, Annexure A-22) the assessee group made disclosure of additional income on account of undisclosed loans/advances." In our considered opinion, this contention does not take the case of the Revenue any further. What has been written by the Assessing Officer in the remand report is ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
