Search and seizure action has taken place on 30 -9 -2015 last date for issuing notice was 30 -9 .2015 for the assessment year 2014 -15 whether the assessment is abated , when no incriminating documents were found for the relevant assessment year ?

Dear Sir, My query is as follows: If a search on a person took place on 30.09.2015 Return for assessment year 2014-15 filed on 30.03.2015 Last date for issuing notice under section 143(2) is 30.09.2015 Whether we can say, proceeding  for A.Y. 2014-15 is unabated proceedings or not Whether the plea that addition can be made only on the basis of search document can be taken for A.Y. 2014-15

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  Whether additions on account of seizure of gold coins in the course of search , which was received on the occasion of Silver Jubilee of marriage anniversary and levy of Penalty under section 271AAB(1)(B) is justified ?

There was search operation u/s132 and block assessment has been completed.During the Assessment Year 2019-20 the AO has levied a penalty u/s 271 AAB(1)(B) on count of bullion found and seized in the locker.The bullion so found and seized a gold coins which the assessee received during the golden jubilee of the Navrattan enterprise and another one at his super annuation from the Navrattan and two gold coins acquired by assessee and his wife during silver jubliee of marriage anniversay. All these facts were disclosed by assessee in the assessment proceedings. AO rejected the proposition made forward by us and…

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