9911796707
TMI Blog2019 (9) TMI 1192X X X X Extracts X X X X X X X X Extracts X X X X ..... .2009, therefore, the present proceedings under section 153C/143A should have been dropped by the A.O, after verification of the seized material. There were no justification to assess the same loss in parallel proceedings. The Ld. CIT(A), therefore, correctly cancelled the assessment order. We, accordingly, confirm the Order of the Ld. CIT(A) and dismiss the departmental appeal. - ITA.No.6247/De ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wing total loss of ₹ 164.76 crores with DCIT, Circle-8, Kolkata. The assessee company is a flagship company of Sahara Group . Special audit under section 142(2A) was also conducted and accordingly assessment was completed under section 143(3) on 18.07 2008 at total loss of ₹ 138.58 crores by the DCIT, Circle-8, Kolkata. A search was conducted in Radhey Group of cases in Ahmadabad where ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 008 at a loss of ₹ 138.58 crores under section 143(3) and again same income have been assessed under section 153C/153A of the I.T. Act through impugned order dated 29.12.2010, therefore, assessment order under appeal was found to be infructuous and was cancelled. The relevant findings of the Ld. CIT(A) in para 4.7 of the impugned order are reproduced as under : 4.7. In the v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . I hold accordingly. The present order u/s 153C/153A/143(3) is infructuous and is cancelled . 4. We have heard the Learned Representatives of both the parties. Learned Counsel for the Assessee at the outset submitted that since the original assessment order under section 143(3) dated 18.07.2008 is in different appeals and same in loss have been assessed in the impugned order also, ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
