Case Law Details
Essel Mining & Industries Limited Vs DCIT (ITAT Mumbai)
Held that in respect of concluded assessments, the earlier assessment completed should not be disturbed in the search assessments without existence of any incriminating material.
Facts- The assessee, vide present appeal, had challenged the validity of assessment framed u/s.153C of the Income Tax Act for A.Y.2009-10 by making certain disallowances and additions without the existence of incriminating material for the year under consideration received from the Assessing Officer of the searched person.
Conclusion- Held that it could be safely concluded that none of the additions made by AO were based on reliance placed on search materials received from AO of the searched person.
We hold that assessment for A.Y.2009-10 had originally been completed u/s.143(3) of the Act dated 30/12/2011. Notice u/s.153C of the Act was issued to the assessee only on 26/11/2014. Hence, on the said date i.e. 26/11/2014, no proceedings of the assessee were pending. Hence, we hold that A.Y.2009-10 becomes an unabated / concluded assessment on the date of assumption of jurisdiction u/s.153C of the Act. The law is very well settled that in respect of concluded assessments, the earlier assessment completed should not be disturbed in the search assessments without existence of any incriminating material relatable to such assessment year.
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