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TMI Blog2019 (12) TMI 1416X X X X Extracts X X X X X X X X Extracts X X X X ..... A No.274/AHD/2016 for A.Y.2008-09 (by Revenue): 2. The only effective ground raised by the Revenue relates to challenging the order of the ld.CIT(A) in deleting the addition of Rs. 3,91,36,700/- made on account of deemed dividend u/s.2(22)(e) by holding that completed assessment can be interfered with by the AO u/s.153A of the Act only on the basis of some incriminating material found during the search action. 3. The ld.Departmental Representative(DR) appearing on behalf of the Revenue submitted before us that the ld.CIT(A) had not appreciated the fact that there is no mention in section 153A of the Act that any incriminating material had to be found during the search in order that an assessment could be framed in terms of section 153A of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t. Ltd. respectively in which the public are not substantially interested. ii) The AO noted that the assessee is holding more than 10% share holder (voting power) in M/s. Jivraj Tea Ltd. and a!so having more than 20% share holding (voting power) in M/s. Vesta Exim Pvt. Ltd. is 46.93% and during the course of assessment proceedings of Vesta Exim for A.Y. 2013-14 it was noticed on perusal of the audit report of the assessee firm that as on 31.03.2013 it was showing an amount of Rs. 2,82,94,680/- as advance received from Jivraj Tea Ltd. iii) The AO noted that the share holding of the assessee in this year in Vesta Exim was nil, and this caused her to issue notice u/s. 133(6) to the Jivraj Tea Ltd. asking for share holding pattern as well a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e., 2008-09, and 2009-10 (action u/s. 132(1) was carried on 18.02.2014) have already become final on the date of search. Not only this, on the same set of facts, the order for A.Y. 2008-09 has been passed under scrutiny u/s. 143(3) of the Act. The impugned additions have been made only on the basis of fishing enquiries in the form of verification of a possibility, without an iota of incriminating document, evidence found and without any relation to any evidence or .incriminating fact unearthed during the search. This not being permissible; the additions made are directed to be deleted. The ground no. 1 and sub grounds are allowed in both the appeals." 6. From the perusal of the order passed by the ld.CIT(A), we find that it is an undispute ..... X X X X Extracts X X X X X X X X Extracts X X X X
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