| Question And Answer | |
|---|---|
| Subject: | Incriminating material – Search assessment |
| Category: | Income-Tax |
| Querist: | Sree Lekha |
| Answered by: | Dr.K.Shivaram, Senior Advocate |
| Tags: | incriminating documents, Search and Seizure, search assessment |
| Date: | February 20, 2022 |
Sirs,
In the absence of any incriminating material during the course of search or any adverse statement recorded in the deposition, can there any be addition to the income which was assessed under section 143(3) of the Act?
Also, please guide if there are any judgements of Supreme Court in this regard.
Thanking You
Courts have held that the completed assessment could not be abated unless some incriminating evidence or material was found during search qua additions made by Assessing Officer . Refer following case laws;
PCIT v. Caprihans India Ltd. (2020) 114 taxmann.com 103 (Bom.)(HC) CIT v. Deepak Kumar Agarwal ( 2017) 398 ITR 586/299 CTR 62/ 251 Taxman 22/ 158 DTR 100 (Bom.)(HC), CIT v. All Cargo Global Logistics Ltd (2015) 374 ITR 645 (Bom.) (HC), CIT v. Continental Warehousing Corporation (Nhava Sheva) Ltd. (2015) 374 ITR 645 (Bom.) (HC) ( Decision of Special Bench in All Cargo Global Logistics Ltd v. Dy. CIT (2012) 137 ITD 287 / 18 ITR 106 (SB)(Mum.)(Trib.) is affirmed.) . CIT v. Sinhgad Technical Education Society (2017) 397 ITR 344/156 DTR 161/297 CTR 441/250 Taxman 225 (SC)