2020 (9) TMI 370

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....s. 61,88,132/- respectively on account of disallowance of freight charges under section 37(1) of the I.T. Act, 1961. 2. Briefly the facts of the case are that by virtue of the authorization of the Director of Income-tax (Investigation), Delhi, under section 132(1)(A) of the I.T. Act, 1961, in the case of the assessee, the residential as well as business/office premises of M/s SRS Group of cases were subjected to search and seizure operations on 09.05.2012. The assessee was drawing income from business and profession in assessment years under appeal. The A.O. issued statutory notice under section 153C r.w.s. 153A of the Income Tax Act, 1961 requiring the assessee to file its return of income. The assessee in response to the said notice, fil....

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....ion have been deleted. Copy of the Order of the Tribunal is placed on record. 5. On the other hand, Ld. D.R. submitted that though no material is referred in the Order with respect to freight charges, but, incriminating material was found during the course of search in the case of SRS Group, therefore, addition is justified. 6. On consideration of rival submissions, we are of the view that no addition is liable to be sustained. The Hon'ble Delhi High Court in the case of Kabul Chawla (supra), as regards completed assessment held as under : "vii. Completed assessments can be interfered with by the A.O. while making the assessment under section 153A only on the basis of some incriminating material unearthed during the course of search or ....