9911796707
TMI Blog2023 (11) TMI 1262X X X X Extracts X X X X X X X X Extracts X X X X ..... . In the instant case, no incriminating material was found during the search and referred in the assessment order and hence the AO is not entitled to make additions in such completed / unabated assessments. We decline to interfere with the finding of the CIT(A). The appeal by the Revenue is dismissed - SHRI N.K. BILLAIYA, ACCOUNTANT MEMBER AND SHRI ANUBHAV SHARMA, JUDICIAL MEMBER For the Revenue : Shri Subhra Jyoti chakraborty, CIT(DR) For the Assessee : Shri Amul sinha, Adv. ORDER PER N.K. BILLAIYA, AM ITA No. 829/Del/2022 by the Revenue and C.O. No. 38/Del/2023 of the assessee preferred against the order of the CIT(A)-27, New Delhi, dated 28.01.2022 pertaining to A.Y. 2011-12. The grievance of the Revenue read as under: 1. The Ld. CIT(A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the assessee despite the fact that there existed no books of account or document or evidence in his possession on the basis of which it could have been alleged that the assessee had made unaccounted investment. 2. That the Ld. AO grossly erred in law and in facts of the case in relying upon an erroneous and incorrect valuation report prepared by valuer only on the basis of estimations without taking proper cognizance of facts and producing reliable comparable for valuation of land. 3. That the valuation report obtained u/s 142A of the Act in the case of assessee is void-ab- initio because of being obtained without any authority of law and in defiance of settled procedures of law. 4. That the valuation report obtained u/s 142A of the Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncriminating material basis which the impugned addition was made. The Counsel reiterated what has been stated before the CIT(A). 6. We have carefully perused the orders of the authorities below. The impugned quarrel is no more res-integra as the same has been settled by the Hon ble Supreme Court in the case of Abhisar Buildwell Pvt. Ltd. 454 ITR 212 wherein the Hon ble Supreme Court, on first principles has endorsed the interpretation of Section 153A of the Act in the lead judgment rendered by the Hon ble Delhi High Court in the case of Kabul Chawla (supra), that in case where the assessment of an assessment year stood concluded at the time of search and remains unabated, the additions and disallowances are permissible in Section 153A proce ..... X X X X Extracts X X X X X X X X Extracts X X X X
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