ACIT v.N. M. Industries P. Ltd (2023)108 ITR 618 (Trib)(Delhi)(Trib) ACIT v Mohit Nidhi Agro Oil P. Ltd. (2023)108 ITR 618 (Trib)(Delhi)(Trib)

S. 153A : Assessment-Search-Unabated assessment-No incriminating material was found-Addition merely on basis of book entries already disclosed to Department is unsustainable–Warrant of authorisation issued and panchnama drawn-Cannot be said that no search has been conducted. [S. 132, 133A, 153C]

 

Held that when no incriminating material was found,addition cannot be made merely on basis of book entries already disclosed to Department.  Tribunal also held that when a  warrant of authorisation had been issued in the name of the assessee and a panchnama had also been duly drawn. Hence, it could not be said that no search had been conducted. The Commissioner (Appeals) had fallen into error to that extent..(AY.2009-10, 2011-12, 2012-13)