Dismissing the appeal of the revenue the Tribunal held that; Assessment was completed on the basis of return filed. No incriminating material being found during subsequent search, there could not be any assessment under section 153A/153C. ( AY. 2011-12)
ACIT v. RPD Earth Movers (P.) Ltd. (2019) 174 ITD 717 (Chennai) (Trib.)
S. 153A : Assessment–Search-Assessment was completed on the basis of return filed-No incriminating material being found during subsequent search, there could not be any assessment under section 153A/153C. [S. 143(3), 153C]