2021 (8) TMI 229

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....nt Year 2010-11 whereby the appeal of the Revenue has been dismissed. 3. Briefly stated, the assesse is a company engaged in trading of equity shares, securities and commodities through recognized exchanges. It filed its return of income on 30th September, 2010 declaring total income of Rs. 39,85,15,922/-. Subsequently, on 30th March, 2012, a search and seizure operation under Section 132 was initiated in the case of the assesse, as part of Jaypee Group. During search, data of the computers found at the premises was cloned and seized along with certain documents. Thereafter, on 05th August, 2013, a notice under Section 153A of the Act was issued. Pursuant thereto, the assessee filed its return of income reiterating the return of income f....

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....essment 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 of the Act and accordingly the same were deleted. In further appeal preferred by the Revenue before the ITAT, the findings of the CIT(A) were confirmed. 5. Before us, Mr. Ajit Sharma, senior standing counsel for the Revenue, fairly submits that the facts of the present case are identical to the facts of appeals decided by this Court in the case of Pr. Commissioner of Income Tax (Central )-3 VS M/s Jaypee Financial Services Ltd. in ITA No 42/2021 and ITA No 44/2021 dated 20th July, 2021 whereby the appeals of the Revenue were dismissed following the earlier order of the lea....