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TMI Blog2025 (2) TMI 396X X X X Extracts X X X X X X X X Extracts X X X X ..... , Accountant Member And Sh. Yogesh Kumar U.S., Judicial Member For the Assessee : Shri Ved Jain, Adv and Sh. Ayush Garg, CA For the Revenue : Sh. Sanjay Kumar Bharati, CIT DR ORDER PER YOGESH KUMAR, U.S. JM: This appeal is filed by the Assessee against the order of Commissioner of Income Tax (Appeals) ('Ld. CIT(A)' for short)- 3, Gurugram, dated 31/01/2024 for the Assessment Year 2015-16. 2. The Grounds of Appeal are as under:- "1. On the facts and circumstances of the case, the order passed by the learned Commissioner of Income Tax (Appeals) [CIT(A)] is bad both in the eye of law and on facts. 2. On the facts and circumstances of the case, the learned CIT(A) has erred both on facts and in law in rejecting the contention of the as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e as not genuine. (ii) That the above addition has been confirmed despite the fact that the same has been made by the AO @ 25% of total purchases on estimated basis by arbitrarily rejecting the explanations and the evidences brought on record by the assessee. 7. On the facts and circumstances of the case, the learned CIT(A) has erred both on facts and in law in confirming the above said addition rejecting the contention of the assessee that the addition has been made by the AO despite the assessee has been maintaining regular books of accounts an financial statement are audited as per law and nothing adverse has been pointed out by the AO. 8. On the facts and circumstances of the case, the learned CIT(A) has erred both on facts and in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n opportunity to rebut the same. 13. The appellant craves leave to add, amend or alter any of the grounds of appeal." 3. Brief facts of the case are that, the Assessee filed original return of income for Assessment Year 2015-16 declaring total income at Rs. 19,52,500/-. A search and seizure operation conducted on residential as well as office premises of SRS Group on 06/06/2018. Consequent to the same, assessment proceedings u/s 153A of the Income Tax Act, 1961 ('Act' for short) was initiated against the Assessee and an assessment order came to be passed by computing the income of the Assessee at Rs. 84,46,917/- as against the returned income of Rs. 19,52,500/-. Aggrieved by the assessment order dated 25/06/2021, the Assessee preferred a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Court in the case of Abhisar Buildwell (supra) is not applicable to the present case, thus, relying on the orders of the Lower Authorities, sought for dismissal of Ground No. 3 of the Assessee. 6. We have heard both the parties and perused the material available on record. In the present case, original return was filed on 26/09/2015 for Assessment Year 2015-16 and the time limit to issue the notice u/s 143(2) of the Act has already been expired therefore the assessment year under consideration being completed, assessment could not be disturbed in the assessment made u/s 153A of the Act in the absence of any incriminating material found during the course of the search. As could be seen from the order of the Ld. CIT(A), the Ld. CIT(A) at Pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Court in the case of Abhisar Buildwell Pvt. Ltd. (supra) held that addition cannot be made in the absence of any incriminating material found during the course of search. The relevant portion of the Judgment of Hon'ble Supreme Court are reproduced as under:- "14. In view of the above and for the reasons stated above, it is concluded as under: iv) In case no incriminating material is unearthed during the search, the AO cannot assess or reassess taking into consideration the other material in respect of completed assessments/unabated assessments. 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 o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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