2014 (7) TMI 859

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....ce of expenditure; and ii. Dis-allowance of depreciation on motor-car, mobile phone and computers as personal in nature to the extent of 25%. Since in all the appeals, common issues are raised, all the appeals are taken up together for adjudication. 2. The facts in brief are: The assessee is a film director. A search operation was conducted u/s.132 of the of the Income Tax Act, 1961 (herein after referred to as 'the Act') on 19-01-2010 in the residential premises of the assessee at Shyamala Garden, Arcot Road, Saligramam, Chennai-93 and survey u/s.133A at the office premises at 1B, Sowmitri Apartments, 18/4, 19th Avenue, Ashok Nagar, Chennai. Notice u/s.142 r.w.s. 153A was issued to the assessee for all the six AYs i.e., from 2004-05 ....

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....ns have been made by the Assessing Officer without any valid reason or justification. The original assessments for the respective AYs were completed u/s.143(1) and at the time of search, no assessment for the impugned AYs was pending. No incriminating material was found during the search. Therefore, the addition made by the authorities below is not tenable. In order to support his submissions, the ld.Counsel placed reliance on the decision of the co-ordinate Bench of the Tribunal in the case of A.B.S.Sanjjay Vs. ACIT in ITA Nos.1691, 1692 & 1693/Mds/2013 decided on 24-01-2014. 4. On the other hand, Shri S.Das Gupta, appearing on behalf of the Revenue vehemently supported the impugned order and prayed for dismissal of the appeals of the a....