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TMI Blog2019 (3) TMI 282X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the Assessing Officer to re-examine its claim for deduction u/s 80IB which was part of the assessment prior to the search and such assessment unabated. Similarly Hon'ble High Court of Bombay in the case of Continental Warehousing Corporation and All Cargo Global Logistics Ltd (2015 (5) TMI 656 - BOMBAY HIGH COURT) dismissing the revenue s appeal holding that there was no incriminating material found during the course of search, the Tribunal was right in holding the power conferred u/s 153A being not expected to be exercised routinely, should be exercised if the search revealed any incriminating material. If that was not found then in relation to the second phase of three years, there was no warrant for making an order within the m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se of the assessee the ld. Commissioner of Income Tax(A) was not justified in holding that the Assessing Officer was justified in disallowing the exemption claimed u/s 80IB(10). 2. As the issues raised in these appeals are common, they are heard together and are being disposed off by this common order for the sake of convenience and brevity. 3. Brief facts of the case as culled out from the records are that the assessee firm is a member of Signature Group of Bhopal, engaged in the business of sale and purchase of real estate. Search Seizure operations u/s 132 of the Act was carried out on 29.01.2014 at the business premises of the assessee firm as well as on the premises of other concerns/business associated. Notice u/s 153A of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng that the additions can be made during the block period assessments pursuant to issuance of notice u/s 153A/153C of the Act without any incriminating material being found against the assessee during this course. (i) Kanara Housing Development Co. V/s Deputy Commissioner of Income Tax, Central Circle-I(1), Bhanglore 274 CTR 122 ( H.C of Karnataka) (ii) E.N. Gopakumar vs. Commissioner of Income Tax (Central) 390 ITR 1331 (Kerala High Court) 7. We have heard rival contentions and perused the records placed before us. The common legal issue raised in all these three appeals is that whether the additions in unabated assessments can be made without any incriminating material found during the course of search u/s 132 of the Act . R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n'ble courts on the issue in question before us favouring the assessee. 9. The Hon'ble High Court of Gujarat in the case of PCIT Vs. Desai Construction (supra) confirmed the view taken by the Tribunal upholding the contention of the assessee that as no incriminating material was found during the course of search which could have enabled the Assessing Officer to re-examine its claim for deduction u/s 80IB which was part of the assessment prior to the search and such assessment unabated. Similarly Hon'ble High Court of Bombay in the case of Continental Warehousing Corporation and All Cargo Global Logistics Ltd (Supra) confirmed the view taken by the Special Bench of I.T.A.T. Mumbai Bench decided in favour of assessee dismissing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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