2019 (2) TMI 1755

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....:- The appeal filed by the Revenue is directed against the order dated 25.4.2013 passed by learned CIT(A)-50, Mumbai and it relates to A.Y. 2006-07. The Revenue is aggrieved by the decision of learned CIT(A) in deleting the addition of Rs. 3532.20 lakhs relating to Share application money received by the assessee. 2. We have heard the parties and perused the record. The assessee is engaged i....

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....ate. Accordingly by placing reliance on the decision of Hon'ble Bombay High Court in the case of CIT Vs. Continental Warehousing Corporation (Nhava Sheva) Ltd. (2015) 58 taxman.com 78, the assessee contended that the Assessing Officer could not have made any addition in the case of unabated assessment, for which no incriminating material was found during the course of search. Learned CIT(A) wa....

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....ly he submitted that the order passed by learned CIT(A) does not call for any interference. 6. Having heard the rival submissions, we are of the view that the order passed by learned CIT(A) does not call for any interference as he has followed the decision rendered by Hon'ble Bombay High Court in the case of Continental Warehousing Corporation (Nhava Sheva) Ltd. (supra), in order to hold th....