S. 153A : Assessment-Search-Abated assessment-No incriminating material was found-Alleged bogus purchases-Addition was deleted. [S. 69C, 132]
Dismissing the appeal of the revenue the Tribunal held that without any incriminating material found during search proceedings the addition cannot be made in respect of abated assessment. Followed, PCIT v. Abhisar Buildwell Pvt. Ltd. (2023)454 ITR 212 / 293 Taxman 141 / 332 CTR 385 / 225 DTR 105 (SC), PCIT v. Meeta Gutgutia (2017) 82 taxmann.com 287 / 395 ITR 526 (Delhi)(HC), CIT v. Gurinder Singh Bawa (2016) 386 ITR 483 (2017) 79 taxmann.com 398 (Bom)(HC) (ITA No. 4215, 4224, 4311, 4313 & 4315 /M/2024 dt. 14-1-2025) (AY. 2013-14 to 2018-19)
Dy. CIT v. Hard castle Restaurant Pvt. Ltd. (Mum.)(Trib.) www.itatonline.org.
[Coram : Hon’ble Shri Anikesh Banerjee, JM and Hon’ble Miss Padmavathy S., AM]