In case of completed assessments Addition not valid if no incriminating document found during search
Case Law Details
Case Name : MGF Automobiles Ltd. Vs ACIT (ITAT Delhi)
Related Assessment Year : 2004- 05 & 2005- 06
Courts :
All ITAT ITAT Delhi
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In the present case it is apparent that on the date of search be on 12/09/2007, the assessments for assessment year 2004-05 & 2005-06 were already completed. There was no incriminating material found during search for these years as is apparent from arguments of Ld. AR and from records and Ld. Departmental Representative did not bring to our notice regarding any incriminating material having been found during search.
Therefore following the Judicial Precedents, we are of the opinion that though assessments for the above ye
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