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TMI Blog2024 (4) TMI 885X X X X Extracts X X X X X X X X Extracts X X X X ..... Apex Court in the case of Pr.CIT vs. Abhisar Buildwell (P.) Ltd. [ 2023 (4) TMI 1056 - SUPREME COURT] would squarely apply to the facts of the case and thus the scope of assessment under Section 153A is restricted to the incriminating material found in the course of search of the assessee owing to the fact that such assessment stood concluded / completed and thus do not get abated by operation of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing Officer (AO) under Section 143(3) r.w. Section 153A of the Income Tax Act, 1961 (the Act) concerning AY 2014-15. 2. When the matter was called for hearing, the ld. counsel for the assessee submitted at the outset that the solitary grievance which requires adjudication in the present case is correctness of taxability of Rs. 4,216/- under Section 2(22)(e) of the Act. The ld. counsel also pointe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ds. No reference to any incriminating material has been made. 4. The ld. DR for the Revenue could not controvert the assertions made on behalf of the assessee towards absence of any incriminating material for making additions under Section 2(22)(e) of the Act. 5. We have carefully considered the orders of the authorities below and examined the merit of legal contentions raised on behalf of the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ples laid down by the Hon'ble Apex Court in the case of Abhisar Buildwell (supra), we find force in the legal plea raised on behalf of the assessee. Hence, in the absence of any incriminating material found in an unabated assessment, the additions made by the AO in the captioned appeal require to be quashed. 7. In the result, the appeal of the assessee is allowed. Order pronounced in the open Co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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