2021 (7) TMI 1025

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... erred in law and on facts in confirming the action of Ld. AO in assuming jurisdiction and issuing of notice u/s 153 A of the Act. 2) That in any case and in any view of the matter, the assessment framed under section 153A(l)(a) of the Act, is bad in law and against the facts and circumstances of the case. 3) That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action of the Ld. A.O. in making addition of Rs. 1,26,000/- on account of cash deposited in the bank account as alleged income from undisclosed sources and that too in the proceedings u/s 153 A of the Act. 4) That in any case and in any view of the matter, action of Ld. CIT(A) in confirming the action of Ld. A....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tunity of being heard. 3. By virtue of the authorization of the Director of income-tax (Investigation), Delhi, under section I32(1)(A) in the case of the assessee, the residential as well as business/office premises of M/s SRS Group, were subjected to search and seizure operations on 9.05.2012. Assessment jurisdiction over the assessee has since been transferred to this circle passing an order u/s 127 of the Income Tax Act, 1961 by the Commissioner of Income Tax Faridabad. During the previous year relevant to the A.Y. 2009-10, the assessee was drawing income from salary and income from house property. In accordance with the provisions of section 153A (I) (a) of the Income Tax Act, 1961 (in short, "the Act", henceforth), a notice dated 06.0....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ting material was found during the search and there are no reasons given as to why the addition is made as all the documentary evidences were before the Assessing Officer as well as before the CIT(A). The Ld. AR relied upon the decision of the Hon'ble Delhi High Court in case of CIT v. Kabul Chawla 380 ITR 573 (Del) and submitted that as per the decision when no incriminating document were found under the proceedings u/s 153A read with Section 143(3) the assessment itself is bad in law. The Ld. AR further submitted that the assessment is abated in Assessment Year 2009- 10 & 2010-11, since the assessment should have been completed by 30th September, 2009 and 30th September 2010. The Ld. AR further submitted that no pending assessment were th....