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TMI Blog2013 (11) TMI 1757X X X X Extracts X X X X X X X X Extracts X X X X ..... - the original assessment in this case was completed under section 143(3) in which deduct ion was allowed in entirety under sect ion 80IB of the Act inter alia on the amount of interest income. It is also undisputed that no incriminating material was found during the course of search casting doubt about the allowability or otherwise of such deduction under sect ion 80IB. This fact has been fairly admitted by ld. D.R. during the course of proceedings before us as well. The Mumbai Bench of the Tribunal in the case of ACIT vs. Pratibha Industries (2013) 141 ITD 151 (Mum.) has held, inter alia, that having done original assessment u/s 143(3), if no incriminating material is found during the course of search, then it is not permissible to make a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income as business income and resultantly allowing deduction under sect ion 80IB by observing that no addition could be made under section 153A where regular assessments have been completed and no incriminating material was found in the course of search seizure operation. 3. Briefly stated the facts of the case are that a search seizure operation was conducted in the premises of Merlin group of cases on 11.09.2008. The assessee is a flagship company of this group. Notice under sect ion 153A was issued requiring the assessee to file its return in respect of the relevant assessment years including the assessment year under consideration. The assessee filed the return declaring income of ₹ 21,30,977/-, being the same amount for which ret ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e any addition in the assessment under section 153A pursuant to search action. The Special Bench of the Tribunal in the case of All Cargo Global Logistics Limited vs. DCIT (2012) 137 ITD 217 (SB)(Mum.) has also held to the same extent. In view of the foregoing discussion, we are of the considered opinion that no exception can be found to the view taken by CIT(Appeals) for deciding this issue in assessee s favour. 6. Before parting with this matter, we want to make it clear that our decision is based in the backdrop of the facts that the deduction under sect ion 80IB could not have been tinkered with because no incriminating material was found during the course of search on this issue when original assessment granting deduction on this issue ..... X X X X Extracts X X X X X X X X Extracts X X X X
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