TaxTMI 
TaxTMI 
2017 (2) TMI 799
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....nt as completed and passed an order u/s. 153A/144 of the Act is bad in law. Therefore, taking into consideration the said ground as preliminary issue and with the consent of both the parties, we proceed to hear the appeal and dispose of the same on merits. 3. The brief facts of this case are that the assessee is an individual and engaged in the business of manufacturing of bricks and conducting his business under the name & style as 'Mukta Bricks' and is a proprietary concern. He derives his income from such business. A search was conducted at the residential and business premises of the assessee on 09-03-2005 in pursuance of provision of section 132 of the Act. Notice u/s. 153A was issued on 19-01-2006 and, thereafter a letter was issued ....
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....to that of regular assessment u/sec 143(3) of the Act. The CIT-A found that all the decisions as relied on by the assessee are not acceptable and distinguished the same with the facts of the present case. Accordingly, he confirmed the action of the AO in passing the assessment order u/s. 153A of the Act. 5. Before us the ld.AR submits that all the additions made by the AO under 153A proceedings being normal addition and made not on the basis of incriminating material, which said to have been found by the respondent revenue during search proceedings. The ld.AR referred to page no- 3 of the order of CIT-A with reference to decisions as the assesse relied on and argued that the assessee was in the same business and that the turnover, gross pr....
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....iews was whether even if AO had jurisdiction under section 153A, addition can be made in assessment /reassessment only when some incriminating material has been found. All these aspects had been referred to the Special Bench of the Tribunal in case of Alcargo Global Logistics Ltd. v. Dy. CIT reported in [2012] 137 ITD 287/23 taxmann.com 103 (Mum.) and order of Special Bench dated 6.7.2012. 8. The Special bench in the case of Alcargo Global Logistics Ltd. supra, has held that provisions of section 153A come into operation if a search or requisition is initiated after 31.5.2003 and on satisfaction of this condition, the AO is under obligation to issue notice to the person requiring him to furnish the return of income for six years immediatel....
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....earlier years and financial data of subsequent years of the assessee. The AO has brought no defect in the profit & loss account of the assessee. Similarly the information regarding the gift and unsecured loan was available in the return of income as capital account had been credited and balance sheet reflecting the loan. It is pertinent to note that all the details i.e ITR and some bank statements of donors are placed at page no's 24 to 41 which clearly shows that the donors i.e Smt.Radha Ghosh donated Rs. 2,00,000/- in cash to Assessee, like wise Smt Minati Ghosh donated Rs. 2,00,000/- by cheque, Brindavan Ghosh for Rs. 50,000/-, Sambhu Ghosh for Rs. 50,000/-, Ashwini Ghosh for Rs. 2,00,000/- and Sita Ghosh for Rs. 1,00,000/- and confirmed....