No Section 153A Assessment If no incriminating materials found during Search

Advertisement Smt. Smrutisudha Nayak Vs Union of India (Orissa High Court) Orissa High Court held that assessment proceedings cannot be initiated if no incriminating materials are seized at the time of the search. Smrutisudha Nayak (Petitioner”)filed the petition challenging the initiation of the assessment proceedings under Section 153A of the Income Tax Act, 1961 (IT Act). The Petitioner is a Director of a Private Limited Company in the name and style of Sambit Resorts Pvt. Ltd. On November 15, 2007, search was conducted by the Income Tax Department at the Petitioner’s residence in Bh...