Case Law Details
Asstt Vs Maruti Clean Coal & Power Ltd. (ITAT Raipur)
There is no dispute that no incriminating material has been found at the time of search and therefore it is now settled proposition of law that no assessment u/s. 153A of the Act can be framed in the absence of any incriminating material found at the time of search. For this proposition, we draw support from the decision of the Hon’ble High Court of Delhi in the case of Kabul Chawla (supra).
FULL TEXT OF THE ITAT ORDER IS AS FOLLOWS:
1. This appeal by the Revenue and cross objection of the Assessee are directed against the order of the Ld. CIT(A), Raipur dated 30.04.2012 pertaining to A.Y. 2004-05.
2. The grievance of the revenue relates to the deletion of the addition of Rs. 35 lacs made by the A.O. u/s. 68 of the Act. In its cross objection, the assessee has challenged the reopening of the assessment by the issue of notice u/s. 148 of the Act.
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