TaxTMI 
TaxTMI 
2022 (11) TMI 1389
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....present application stands disposed of. ITA 29/2019 1. Present Income Tax Appeal has been filed challenging the order dated 27th February, 2018 passed by the Income Tax Appellate Tribunal ('ITAT') in ITA No. 4594/DEL/2016 for the Assessment Year ('AY') 2009-10. 2. The facts of the case relevant for deciding the present appeal are as follows: 2.1. On 27.09.2009, the Assessee filed Income Tax Return ('ITR') declaring an income of Rs. 9,93,09,210. The return filed by the Assessee was processed under Section 143(1) of the Income Tax Act, 1961 ('the Act'). The assessment under Section 143(3) was completed on 28.02.2011 at the returned income. 2.2. On 10.12.2013, a search and seizure operation under Section 132 of the Act was carried out in ....
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....the Appellant states that the ITAT has erred in holding that the addition which is not based on incriminating material found during the search could not be made in assessment under Section 153A of the Act and, consequently, deleted the addition without going to merits of the same. He states that the ITAT failed to appreciate that the incriminating evidence in the present case was discovered during the simultaneous search carried out on the premises of an entry operator Sh. Tarun Goel and information was received by the AO from the report of the Investigation Wing. He states that the ITAT failed to appreciate that the impugned addition under Section 68 of the Act was not based merely on the report or the statement of the entry operator Sh. T....
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....produced herein below:- "12. We have considered the submissions of both the parties and carefully gone through the material available on the record. In the present case, it is an admitted fact that the original assessment was framed by the AO vide order dated 08.12.2009 u/s 143(3) of the Act, thereafter, the case was reopened and the assessment was framed u/s 147/143(3) of the Act vide order dated 03.12.2012. After it, a search and seizure operation u/s 132 of the Act was carried out on 10.12.2012. During the course of search, no incriminating material was found and the AO made the addition on account of increase in share capital which was recorded in the books of accounts. The Assessee had taken a plea before the ld. CIT(A) that the asse....
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....arch 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. Although Section 153 A does not say that additions should be strictly made on the basis o....