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of <h1>Assessment under section 153A invalid without incriminating materials found during search proceedings</h1> <h3>M/s. Jindal (India) Ltd. Versus ACIT, Central Circle – 30, New Delhi.</h3> M/s. Jindal (India) Ltd. Versus ACIT, Central Circle – 30, New Delhi. - TMI Issues Involved: Three separate appeals by the assessee against a consolidated order of CIT(A)-30, New Delhi dated 11.05.2015 pertaining to A.Y. 2007-08, 2009-10, and 2010-11.A.Y. 2007-08: The assessee claimed deductions of sales tax incentive and power incentive, which were rejected by the AO. The issue was whether the assessment u/s 153A was valid since no incriminating materials were found during the search. The Hon'ble Delhi High Court's decision in Kabul Chawla was cited. The Tribunal held that the assessment was bad in law and quashed it, not delving into the denied claim.A.Y. 2009-10 and A.Y. 2012-13: The assessee claimed deductions for sales tax and power incentives under the West Bengal Incentive Scheme. The CIT(A) rejected the claims, citing the Goetze India case. The Tribunal disagreed, emphasizing the purpose of the subsidies and the decisions of the Hon'ble Supreme Court. The Tribunal directed the AO to allow the claims for both assessment years based on the purpose of the incentives and relevant judicial precedents.Separate Judgement: The Tribunal, comprising Accountant Member Sh. N.K. Billaiya and Judicial Member Sh. Kul Bharat, allowed all three appeals of the assessee on 19.10.2022.
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