2011 (8) TMI 1238

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....IT DR ORDER Per D. Karunakara Rao, AM The present appeal is directed against the order of the Commissioner of Income tax (Appeals), Kolhapur dt. 17-7-2007 for the assessment year 2004-05. At the very out set, Ld Counsel for the assessee brought to attention the letter dated 7.6.2011 and the additional ground mentioned therein. The said additional ground read as follows. On the facts an....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....was followed in the case of Sushil Kumar Jain reported in 7 Taxmann 111 (Indore) (2010). The following is the written text of the Counsel for the assessee. 3. In this regard, the learned counsel for the assessee mentioned that the assessee is an onion merchant and commission agent. He was searched by the department on 19-11-2003 relevant to the assessment year 2004-05. Referring to the assessme....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of search is necessary. Once a Warrant of Authorization and requisition is issued and search is conducted and panchanama is drawn, the completed assessment for all the relevant assessment years would get reopened irrespective of whether any incriminating material is found or not in relation to a particular assessment year. In other words, even if the material found shows the concealment in only on....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....seizure proceedings, certain unaccounted valuables or money is found at the time of search without there being incriminating material or document for any other year or years, even then all the six assessments preceding the assessment year in which search took place shall get reopened. Similarly, if requisition is made then irrespective of whether there is anything incriminating found against him i....