TaxTMI 
TaxTMI 
2024 (9) TMI 370
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....alal,. P.C : 1. This is a batch of appeals under Section 260A of the Income Tax Act, 1961 ("the Act ") filed by the revenue challenging the common judgment and orders dated 25 April, 2018 passed by the Income Tax Appellate Tribunal, Mumbai Bench, "G", Mumbai ( for short, "the Tribunal") in a batch of Income Tax Appeals. 2. The Tribunal, considering the decision of this Court in Commissioner of Income Tax vs. Continental Warehousing Corporation (Nhava Sheva) Ltd. 374 ITR 645 (Bom.) ("Continental Warehousing Corporation) has allowed the appeals filed by the assessee which are for the Assessment Years 2005-06, 2006-07 and 2007-08. The Tribunal also observed that a Co-ordinate Bench of the Tribunal had followed the decision of this Court i....
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....er on the facts and circumstances of the case, and in law the ITAT is correct in limiting the scope of Section 153A only to undisclosed income, when as per the section, the AO has to assess the total income of the six assessment years? iii) Whether on the facts and circumstances of the case and in law, the ITAT is correct in deciding the appeal, merely relying on the decision of the case of CIT Vs. Continental Warehousing Corporation Ltd., (Bombay High Court) and decision of the case of All Cargo Global Logistics Ltd. Vs. DCIT (ITAT, Mumbai), without appreciating that the matter has not reached finality and the same is pending before the Apex Court? iv) Whether on the facts and circumstances of the case, and in law the ITAT is correct....
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.... drawn our attention to the decision of the Supreme Court in Principal Commissioner of Income-tax, Central-3 Vs. Abhisar Buildwell (P.) Ltd.2 to submit that the issue involving interpretation of the provisions of Section 153A read with Sections 132 and 143 had fell for consideration of the Supreme Court, which had arisen from the decision of this Court as also from the decisions of the other High Courts. The Supreme Court held that in respect of completed assessments/unabated assessments, no addition can be made by Assessing Officer in absence of any incriminating material found during course of search under Section 132 or requisition under Section 132A. It is also, however, held that completed/unabated assessments can be reopened by Assess....
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.... 147/148 of the Act, subject to fulfilment of the conditions as envisaged/mentioned under sections 147/148 of the Act and those powers are saved. The question involved in the present set of appeals and review petition is answered accordingly in terms of the above and the appeals and review petition preferred by the Revenue are hereby dismissed. No costs." 7. Thus, the view of this Court in Commissioner of Income Tax vs. Continental Warehousing Corporation (supra) has found approval of the Supreme Court. In view of the authoritative pronouncement of the Supreme Court in Principal Commissioner of Income-tax, Central-3 Vs. Abhisar Buildwell (P.) Ltd. (supra), the question of law as raised by the revenue would not arise for consideration.....