2024 (5) TMI 320

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....lowing grounds:- "1. That the Commissioner of Income Tax (Appeals)-30 ['CIT(A)'] erred on facts and in law in not holding that the assessment order dated 31.12.2018, passed under section 254 r.w.s. 153A/143(3) of the Income-tax Act, 1961 ('the Act') is beyond jurisdiction, bad in law and void-ab-initio. 1.1. That the CIT(A) erred in not appreciating that the impugned order dated 31.12.2018, having been passed in blatant violation of directions/ decision of the Income Tax Appellate Tribunal ('ITAT') vide its order dated 10.04.2017, is illegal and bad in law. 1.2. That the CIT(A) failed to appreciate that the assessing officer had exceeded his jurisdiction in traversing beyond the mandate of ....

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....t appreciating that the assessing officer completely failed in bringing on record any authentic document/information to corroborate the allegation that the appellant held any foreign bank account with HSBC, Geneva. 1.7. That the CIT(A) failed to appreciate that the entire addition of Rs. 69,07,414 was made on suspicion and surmises, de-hors any incriminating material found/seized during the course of search at the premises of the appellant. 1.8. That the CIT(A) erred in not appreciating that the initial assessment order dated 27.02.2015, passed under section 153A was barred by limitation as prescribed in section 153B(1)(viii) of the Act. 1.9. That the CIT(A) erred in summarily dismissing the appeal of the appellan....

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....was completed on 27.02.2015 on total income of Rs. 76,13,144/- under section 153A/143(3) of the Income Tax Act, 1961 (the "Act") including therein addition of Rs. 69,07,414/- on account of peak balance maintained by the assessee with HSBC Bank, Geneva. The assessee challenged the said addition before the Ld. CIT(A) who vide order dated 24.08.2016 dismissed the assessee's appeal. The assessee filed second appeal before the Tribunal against the said order of the Ld. CIT(A). The Tribunal vide its order dated 10.04.2017 in ITA No. 5448/Del/2016 set aside the case to the Ld. Assessing Officer ("AO") to adjudicate the matter afresh. The assessee preferred further appeal against the aforesaid order of the Tribunal before the Hon'ble Delhi High Cou....

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....erial, even according to the respondent/revenue, was found during the search 15.2 Furthermore, the material on which the respondent/revenue relied on was not of a quality that would persuade us to hold that the stand taken by the appellant/assessee, which is, that he did not maintain an account with the Geneva branch of HSBC Bank, was incorrect. 16. Given the conclusion that we have arrived at and the position of law enunciated in the judgments referred to hereinabove, i.e., Kabul Chawla and Abhishar Buildwell P. Ltd., that a completed assessment can be reopened only if incriminating material is found during the course of search under Section 132 of the Income-tax Act, 1961, the question of law is answered in favour of the....