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TMI Blog2024 (8) TMI 886X X X X Extracts X X X X X X X X Extracts X X X X ..... ncipal Commissioner of Income-tax, Central-3 Vs. Abhisar Buildwell (P.) Ltd. [ 2023 (4) TMI 1056 - SUPREME COURT] held that in respect of completed assessments/ unabated assessments, no addition can be made by Assessing Officer in absence of any incriminating material found during course of search under Section 132 or requisition under Section 132A. It is also, however, held that completed/ unabated assessments can be reopened by Assessing Officer in exercise of powers under Section 147/148 subject to fulfillment of conditions as envisaged under Section 147/148 and those powers were saved Thus, the question of law as raised by the revenue would not arise for consideration. As clarified that the completed/unabated assessments can be reopened ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... risdiction conferred on him under Section 153A, for which assessments be made for each of six assessment years separately . This Court, considering the relevant provisions, held that no addition can be made in respect of unabated assessments which have become final, if no incriminating material was found during search. The relevant observations as made by the Court are required to be noted which read thus:- 29. We are not in agreement with Mr. Pinto that these observations are made in passing or that they are not binding on us because the essential controversy before the Bench was somewhat different. He urges that was only in relation to the legality and validity of the order of the Commissioner under section 263 of the IT Act. Had that bee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... observations and conclusions as above that we are not repeating the same. Even if the exercise of power under section 153A is permissible still the provision cannot be read in the manner suggested by Mr. Pinto. Not only the finalised assessment cannot be touched by resorting to those provisions, but even while exercising the power can be exercised where a search is initiated under section 132 or books of account, other documents or any assets are requisitioned under section 132A after 31st March, 2003. There is a mandate to issue notices under section 153(1)(a) and assess or reassess the total income of six assessment years immediately preceding the assessment year relevant to the previous year in which such search is conducted or requisiti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e CIT(A) that none of the additions were based on any incriminating material found during the course of search is fair and proper and, therefore, the ratio of the judgment of the Hon ble Bombay High Court in the case of Continental Warehousing Corporation (Nhava Sheva Ltd) (supra) has been aptly applied. Even with regard to the adoption of date of 19.11.2012, the learned representative asserted that the action of CIT(A) is correct in law inasmuch as it was for the Assessing Officer to demonstrate if the date was not correct. 8. We have carefully considered the rival submissions. Insofar as the legal position is concerned, it is quite well-settled by the judgment of the Hon ble Bombay High Court in the case of Continental Warehousing Corpora ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... referred to any incriminating material seized in search proceedings and also in not appreciating that Hon ble Supreme Court has admitted SLP filed by the Revenue in the case of M/s. Continental Warehousing Corporation (Nhava Sheva) Ltd. 64 taxman.Com 34 on the similar issue? 6. Mr. Suresh Kumar, learned counsel for the Revenue has drawn our attention to the decision of the Supreme Court in Principal Commissioner of Income-tax, Central-3 Vs. Abhisar Buildwell (P.) Ltd. [2023] 149 taxmann.com 399(SC) to submit that the issue involving interpretation of the provisions of Section 153A read with Sections 132 and 143 had fell for consideration of the Supreme Court, which had arisen from the decision of this Court as also from the decisions of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Meaning thereby, in respect of completed/unabated assessments, no addition can be made by the AO in absence of any incriminating material found during the course of search under Section 132 or requisition under Section 132A of the Act, 1961. However, the completed/unabated assessments can be re-opened by the AO in exercise of powers under Sections 147/148 of the Act, subject to fulfilment of the conditions as envisaged/mentioned under sections 147/148 of the Act and those powers are saved. The question involved in the present set of appeals and review petition is answered accordingly in terms of the above and the appeals and review petition preferred by the Revenue are hereby dismissed. No costs. 7. Thus, the view of this Court in Commissio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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