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2020 (12) TMI 729
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...., interest, salary and interest from partnership firm M/s Diamond Brick Field. There was a search and seizure action under section 132 of the Act at the residential and business premises of the assessee on 5.12.2013. Consequently, the AO initiated the proceedings under section 153A for six years i.e. assessment year 2008-09 to 2013- 14 and passed the assessment order for these six years whereby the AO has made the additions on account of unexplained deposits in the bank account of the assessee under section 69 of the Income Tax Act. For each of six years, the AO had made the solitary addition on account of unexplained deposits in the bank account. The assessee challenged the action of the AO before the CIT(A) and also raised the issue of th....
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....e to be declared invalid. 2. That in any view of the matter since the assessment framed u/s 153A r.w.s. 43(3) of the Act vide order dated 18/03/2016 is not based on settled law as the addition if any required to be made only on incriminatory material found in the course of search but in the present case since no incriminating material was found nor even discussed in the order about any incriminating material hence the addition so made and maintained are illegal therefore the assessment liable to be declared void. 3. That in any view of the matter in the course of search no incriminating material was found and the return filed u/s 139 has already been accepted and no proceedings are pending therefore the entire approach of ....
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....ny view of the matter the addition of Rs. 12,84,211/- Made on the basis of bank account is nothing but a repetitive addition made year after year hence the addition is highly unjustified and incorrect. 8. That in any view of the matter finding and observations of the two lower authorities in their order for making & confirming the addition are incorrect and contrary to the actual fact of the case hence the same are liable to be sponged of. 9. That in any view of the matter penal interest charged u/s 234A of the Act amounting to Rs. 4,105/- is not correct at all because there was no delay in filing the original return hence the charge of interest is liable to be deleted. 10. That in any view of the matter interest ....
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.... therefore finalized assessment shall not abate in the light of various decisions of the Hon'ble High Courts and ITAT Benches, hence the order dated 06.09.2018 passed by the Commissioner of Income Tax (Appeal)-III, Lucknow is liable to be declared invalid and void. 4. That in any view of the matter the allegation of Commissioner of Income Tax (Appeal)-III, Lucknow in para 7 of her order that a sum of Rs. 1,00,00,000/- had surrendered on account of income from Commission from land dealing and the appellant admitted in the statement as undisclosed income is totally incorrect, baseless as no investment was made nor any land dealing was done as well as no income was earned/assessed on account of land dealing an even no evidence/loose p....
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....ging the addition made by the AO in the absence of any incriminating material the learned AR has submitted that the CIT(A) has not disputed this fact that there was no incriminating material found during the search and seizure operation but the CIT(A) has rejected the application filed under section 154 by giving a finding that once a search and seizure operation is taken under section 132 of the Act the AO shall issue notice under section 153A for all six years immediately preceding to the assessment year relevant to the previous year in which search is conducted. Thus he has pleaded that the issue is pure legal in nature and may be kept open. 5. On the other hand, learned CIT DR has submitted that the withdrawals if any made by the ass....