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TMI Blog2022 (10) TMI 496X X X X Extracts X X X X X X X X Extracts X X X X ..... ed:- 11-10-2022 - HON'BLE MR. JUSTICE MANMOHAN AND HON'BLE MS. JUSTICE MANMEET PRITAM SINGH ARORA Appellant Through: Mr. Ruchir Bhatia, Sr. Standing Counsel for Revenue with Ms. Mansie Jain, Advocate. Respondent Through: None. J U D G M E N T MANMOHAN, J (Oral): 1. Present Income Tax Appeal has been filed challenging the order dated 21st January, 2021 passed by the Income Tax Appellate Tribunal ( ITAT ) in ITA No. No.3857/DEL/2015 C.O. No. 53/DEL/2016 for Assessment Year ( AY ) 2010-11. 2. Learned counsel for the Appellant states that the ITAT has erred in holding that the addition which was not based on incriminating material found during the search, could not be made the basis for an assessment u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f some incriminating material found during the course of search, which is absent in this case. Therefore, we allow the additional ground in CO raised by the assessee with similar direction as in Assessment Year 2009-10. 24. Accordingly, additional ground raised in the Cross Objection by the assessee is allowed. 25. Therefore, the grievance of the AO in ITA as well as inother grounds of the Cross Objection of the assessee becomes purely academic in nature and does not deserve to be discussed and hence dismissed. 26. In the result, the Cross Objection of the assessee for boththe years are allowed partly and appeals of the Assessing Officer are dismissed for both the years. (Emphasis supplied) 4. This Court finds ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he course of the search, or other post-search material or information available with the AO which can be related to the evidence found, it does not mean that the assessment can be arbitrary or made without any relevance or nexus with the seized material. Obviously an assessment has to be made under this Section only on the basis of seized material. v. In absence of any incriminating material, the completed assessment can be reiterated and the abated assessment or reassessment can be made. 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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