2015 (8) TMI 1266

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.... we heard them together and dispose of the same by this common order. 2. Shri S. Sridhar, ld. Counsel for the assessee submitted that there was a search operation in the business premises of the assessee on 28.12.2010. During the course of search operation, according to the ld. Counsel, no material was found and seized. However, on the basis of the statement recorded during the course of search operation from one of the partners of the assessee-firm, the addition was made. According to the ld. Counsel, in the absence of any material found during the course of search operation, there cannot be any addition u/s 153C of the Act. 3. On the contrary, Dr. B. Nischal, ld. Departmental Representative submitted that initially a survey was conducte....

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....07, the assessee appears to have filed its return of income in the regular course on 20.10.2006. Similarly, for the assessment year 2007-08, the return of income was filed on 31.10.2007. For the assessment year 2011-12, the return of income was filed on 28.6.2012. The time limit for issuing notice u/s 143(2) expired for the assessment year 2006-07 on 30.7.2007. For the assessment year 2007-08, the time limit for issuing notice u/s 143(2) expired on 30.9.2008. Admittedly, the search was conducted on 28.12.2010. Therefore, the assessment proceedings on the basis of the return filed u/s 139(1) was terminated by operation of law. Therefore, the Assessing Officer has to make assessment u/s 153C in the case of persons other than the searched pers....