2022 (7) TMI 1090

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....posed of. ITA 189/2022 1. The present Income Tax appeal arises out of common impugned order dated 6th October, 2020 passed by the Income Tax Appellate Tribunal (hereinafter referred to as the 'ITAT') in ITA No. 6181/Del/2018 for assessment year 2010-11. 2. The facts giving rise to the present appeal are that the Investigation Wing of the Income Tax Department carried out a search and seizure operation against M/s K.R. Pulp & Papers Limited under Section 132(1) of the Income Tax Act, 1961 (hereinafter referred to 'the Act') on 8th July, 2015 at various residential and business premises. The said company is stated to be managed and controlled by Shri Madho Gopal Agarwal, Shri Raj Gopal Agarwal and Shri Gopal Agarwal. The statement of....

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....was dismissed vide an order dated 6th October, 2020. 6. The ITAT concluded that the additions made by the Assessing Officer for the assessment year under consideration was not based on any incriminating material found during the course of search on 8th July, 2015. It held that the documents referred to by the Assessing Officer pertains to the period w.e.f. 1st April, 2010 to 31st March, 2011 which relate to the assessment year 2011-12 and not for the impugned assessment year 2010-11. The ITAT observed that the original return of income was filed by the assessee for the assessment year under appeal on 28th September, 2011. The search was conducted on 8th July, 2015 and on the date of the search, the assessment under appeal was complete....

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....up cases of ACIT vs. Madho Gopal Agarwal in ITA No. 6184/Del/2018 and ACIT vs. M/s Kapis Impex LLP in ITA No. 6180/Del/2018 the department's appeal had been dismissed by the ITAT vide its orders dated 13th January, 2020 and 30th June, 2020. Upon inquiry from the learned counsel for the appellant, he stated that he has no instructions if any challenge has been laid by the department to the aforesaid orders of the ITAT passed in the case of ACIT vs. Madho Gopal Agarwal and ACIT vs. M/s Kapis Impex LLP. 9. In group cases of Madho Gopal Agarwal and M/s Kapis Impex LLP (supra), the ITAT has noted that identical grounds of appeal have been raised and as noted above, the said appeals, already stood dismissed. The ITAT, therefore, concluded that....

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....ceding the previous year relevant to the AY in which the search takes place. ii. Assessments and reassessments pending on the date of the search shall abate. The total income for such AYs will have to be computed by the AOs as a fresh exercise. iii. The AO will exercise normal assessment powers in respect of the six years previous to the relevant AY in which the search takes place. The AO has the power to assess and reassess the 'total income' of the aforementioned six years in separate assessment orders for each of the six years. In other words there will be only one assessment order in respect of each of the six AYs "in which both the disclosed and the undisclosed income would be brought to tax". iv. Alt....