2021 (8) TMI 200

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.... Mr.Anant Ram Mishra, Adv. For the Respondent :Mr.Ved Jain and Ms.Richa Mishra, Advs. MANMOHAN, J. (Oral) 1. The hearing has been conducted through video conferencing. 2. The present appeal under Section 260A is directed against the order dated 05th September, 2019 passed by Income Tax Appellate Tribunal, in ITA No. 4262/Del/2016 for the Assessment Year 2007-08 whereby the appeal of th....

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.... officer found evidence of Client Code Modifications done by M/s Jaypee Capital Services Ltd. and Futurz Next Services Ltd, companies registered with NSE, MCX, and NCDEX and United Stock Exchange. A Special Auditor was appointed u/s 142(2A) and directed to file a report on the aspect of Client Code Modifications done by the afore-noted companies as well the assessee company. On the basis of the Au....

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.... the CIT(A), following the dicta of this court laid down in CIT Vs. Kabul Chawla, 2015 SCC OnLine Del 11554, held that no assessment/reassessment proceedings were pending on 30.03.2012 when search action took place and hence no assessment was abated. The addition made by the AO is not based on any incriminating document/seized material found during the course of search and seizure action u/s 132 o....

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....awla (supra) was not available and therefore, assessing officer did not consider it necessary to give a complete description of the incriminating material by recording the details of the panchnama. 6. We have perused the record. Both the CIT(A) as well as the ITAT have held in the instant case that the addition is not based on any incriminating material found during the course of search and the....