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Section 132, 153A Assessment was completed under section 143(1). Completed assessments can be interfered with by A.O. while making assessment under section 153A only on basis of some incriminating material unearthed during course of search or requisition of documents or undisclosed income or property discovered in course of search which were not produced or not already disclosed or made known in course of original assessment. ACIT v. SHRI SURENDRA KUMAR GUPTA 30.9.2020 Delhi ITAT IT-CASES-211-2020
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Section 132, 153A What AO can do with item found in search is already disclosed in ITR and Balance Sheet submitted?IT-CASES-210-2020
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क्या होगा जब किसी के यहां आयकर छापा पड़े और वहां पड़े किसी इनक्रिमिनेटिंग मैट्रियल पर आपका नाम हो? आईटीऐटी दिल्ली ने 28 अप्रैल 2020 को क्या फैसला दिया? IT-CASES-209-2020
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दिल्ली हाईकोर्ट ने 1 अगस्त 2017 को फैसला देते हुए कहा कि आयकर छापे के दौरान धारा 132 4 में लिए गए स्टेटमेंट अपने आप में incriminating material नहीं है केवल इस आधार पर ना तो assumption of jurisdiction u/s 153 A हो सकता है और ना ही कोई एडिशन किया जा सकता है.PCIT vs.BEST INFRASTRUCTURE (INDIA) PVT. LTD. & ORS. IT-CASES-208-2020
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ITAT KOLKATA on Mar 18, 2020 held that the assessment made u/s 153A/143(3) of the Act is invalid in the absence of any incriminating material found during course of search hence the addition made by AO in assessment completed was beyond scope.
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No incriminating material was found during search that would have resulted in any addition in income returned by assessee. It was also an uncontroverted fact that assessment consequent to return of income filed u/s 139 for AY 2006-07 was completed. Thus, on date of search, no assessment was pending which could have abated. It was a case of non-abated assessment. No addition could be made in respect of assessments which became final if no incriminating material was found during search. CIT Vs. Murli Agro Products Ltd
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any addition u/s 153A can be made only on the basis of incriminating material found during course of search.No addition can be made on the basis of papers / information submitted during proceedings. D ART FURNITURE SYSTEMS P. LTD. vs. DCIT
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Since no incriminating material was unearthed by AO during the course of search operation under section 132, therefore no addition could be made during the relevant assessment year under section 153A. Mona Agarwal & Anr. v. ACIT
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the assessments which have already attained finality and does not get abated, then they have to be assessed on the basis of the incriminating material found during the course of search. The reason being that the assessments which are pending and get abated, the entire income has to be determined which includes material already on record and also the material found as a result of search. DCIT v. United Stock Exchange of India Ltd.
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For the purpose of carrying forward the loss in terms of section 72 read with section 80 of the Act, in a case where search operations have been conducted under section 132 of the Act, the time to file the return within the meaning of section 139(3) of the Act has to be regarded as the reasonable time afforded by the consequent notice under section 153A(1)(a) of the Act.