Case Law Details
Brief of the Case
ITAT Delhi held In the case of M/s DMA Investment Pvt. Ltd. vs. DCIT that in the present case, no incriminating material was found or seized during the course of search and seizure operation. Under the circumstances, the issue is covered in favour of the assessee by the decision dated 28.8.2015 of the Hon’ble Delhi High Court in the case of CIT vs. Kabul Chawla, ITA No. 707, 709 and 713/2014 wherein it was held that Completed assessments can be interfered while making the assessment under Section 153 A only on the basis of some incriminating material unearthed during the course of search or undisclosed income or property discovered in the course of search which were not produced or not already disclosed or made known in the course of original assessment. In the current case, AO has completed the assessment and made the addition without any incriminating material found during the search and seizure operation and the addition in this case was purely based on the material already available on record. Hence the addition is not sustainable.
Facts of the Case
A search and seizure operation was carried out in the case of Amtek Group of Cases. The assessee was covered u/s. 132(1) which is a group company of Amtek Group. Subsequently, the case was centralized with Central Circle-14, New Delhi. Accordingly, notice u/s. 153A was issued to the assessee on 26.9.2011. Thereafter, the AO completed the assessment at Rs. 50,000/- for making the disallowance u/s. 14A vide Order dated 29.10.2012 passed u/s. 153A/143(3). The assessee mainly challenged the validity of the order passed by the AO u/s 153A.
Contention of the Assessee
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