2024 (11) TMI 1120

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....la For the Appellant : Shri Siddharth Sharma - Advocate For the Respondent : Shri Abhijeet Awasthi - Deputy Advocate General ORDER PER: JUSTICE SUSHRUT ARVIND DHARMADHIKARI Instant appeal is filed by the appellant-Revenue under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as 'the Act of 1961') being aggrieved by the order dated 23/11/2023 passed by the I....

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....fied in holding that the mere financials of any entity, which were seized during search action are incriminating material? 3. Whether on the facts and circumstances of the case and in law, Hon'ble ITAT has erred in annulling the assessment made u/s 143(3) on the ground that assessment should have been made u/s 153C and thereby deleting the addition of Rs. 2,88,00,000/- made by the AO ....

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....ating material in relation to the assessee was found during the search conducted as per seized material handed over to the AO? (c) the mere handing over of the seized material to the AO was not sufficient to take up assessment u/s 153C since there is nothing incriminating about the material seized in the present case? (d) the AO cannot be compelled to be satisfied, since doing so....

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....M/s Little Star Securities Pvt. Ltd. without appreciating the facts of the case brought on record by the Assessing Officer including that this 'lender' is an identified/established bogus company having no business and provided accommodation entries only and further, as established by learned CIT(A), that this loan is received in contravention of the Companies Act 2013? 5. Whether ....