2025 (9) TMI 492

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....T. A. No. 2222/Kol/2024 - -<br>Income Tax<br>Shri Rajesh Kumar, AM And Shri Pradip Kumar Choubey, JM For The Assessee : Shri S. Jhajharia, FCA & Shri Sujoy Sen,AR For The Revenue : Shri P. N. Barnwal, CIT, DR ORDER PER BENCH: All these appeals filed by the revenue and the Cross Objections filed by the assessee are against the separate orders of Ld. CIT(A), Kolkata-21 dated 20.06.202....

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....lay for sufficient reasons and accordingly condone the same by admitting the appeal of the assessee for adjudication. 4. The facts in brief are that the assessee filed the return of income u/s. 139(1) of the Act on 15.07.2011 declaring total income of Rs. 1,040/-. A search action u/s. 132 of the Act was conducted on 09.09.2015 and subsequent dates on UNIGLOBAL GROUP of which the assessee is a r....

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....peal of the assessee on legal issue that AO has no jurisdiction to make addition in an unabated assessment year without any incriminating materials and directed the AO to delete the addition in respect of share application money on the ground that the addition. 6. After hearing the rival contentions and perusing the material available on record, we find that the return of income was filed u/s 1....

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....has clearly recorded a finding of fact that AO has not referred to any incriminating materials found during the course of search qua the share application . Accordingly, we are in agreement with the Ld. CIT(A) that addition in case of unabated assessment year can only be made on the basis of search material found and seized during search. The case of the assessee is squarely covered by the decisio....