2017 (11) TMI 1218

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....ct in the case of the assessee as well as the premises of CHD Developers Group of cases on 23.11.2012. Survey action under section 133A were also carried-out at the business premises of the group. The A.O. issued notice under section 153A to the assessee on 22nd August, 2013 requiring to file return of income. The assessee filed return of income on 13th May, 2014. The A.O. during assessment proceedings noticed that assessee-company has received fresh share capital/share application money amounting to Rs. 6,50,00,000. The assessee was asked to provide details of the persons/companies from whom the above share capital/share application money was received. The assessee filed the details to show share application money have been received from P....

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.... Delhi High Court in the case of CIT vs. Kabul Chawla 380 ITR 573 and others. The Ld. CIT(A) however, rejected the contention of assessee because the time limit for issue of notice under section 143(2) of the Act had not expired in this case at the time of search. The addition on merit was also confirmed. Appeal of assessee was dismissed. 4. The assessee in the grounds of appeal challenged the addition of Rs. 2 crores. Learned Counsel for the Assessee reiterated the submissions made before the Ld. CIT(A) and submitted that the time for issue of notice under section 143(2) had expired on 30th September, 2012. Therefore, no assessment was pending. As such, the issue is covered in favour of the assessee by the judgment of the Hon'ble jurisd....

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....the course of search or requisition of documents or undisclosed income or property discovered in the course of search which were not produced or not already disclosed or made known in the course of original assessment" 6.1. The Hon'ble Delhi High Court in its recent decision in the case of Pr. CIT vs. Meeta Gutgutia 395 ITR 526 considering its earlier decisionS in the case of Kabul Chawla (supra) and Smt. Dayawanti Gupta vs. CIT (supra) held as under : "69. What weighed with the Court in the above decision was the "habitual concealing of income and indulging in clandestine operations" and that a person indulging in such activities "can hardly be accepted to maintain meticulous books or records for long." These factors are absent....

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.... of income on 07.11.2011 under section 139(1) of the I.T. Act. It was also submitted that on the date of search, no proceedings for instant assessment year were pending and no notice under section 143(2) have been issued or served upon the assessee. It was also pleaded that no incriminating material were detected as a result of search so as to make the above addition. The Ld. CIT(A) rejected the contention of assessee because the time for issue of notice under section 143(2) of the Act had not expired in this case at the time of search. Proviso to Section 143(2) relevant to assessment year under appeal provides "provided that no notice under clause (ii) shall be served on the assessee after expiry of six months from the end of the financial....