Dismissing the appeal the Court held that on the date of search, admittedly, the assessment with respect to the assessment year under consideration 2011-12 admittedly stood completed. Since no assessment was pending for the relevant assessment year 2011-12 on the date of search and no incriminating material was found during the course of search, the addition under section 153A of the Act was not valid.(AY.2011-12)
PCIT v. Kavita Agarwal (Ms.) (2022) 143 taxmann.com 404 / (2023) 457 ITR 112 (Delhi)(HC)
S. 153A : Assessment-Search-No incriminating material found during search-Statement recorded under Section 132(4) does not constitute incriminating material-Completed assessment-Addition is not valid. [S. 132, 132(4)]