TaxTMI 
TaxTMI 
2025 (12) TMI 1705
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....2. Besides challenging the issue on merits in restricting the addition by the ld. CIT(A), the assessee has challenged in invoking the provisions of section 153A of the Income Tax Act, 1961 ["Act" in short] on the ground that no search was conducted in the name of the assessee and no Panchnama executed in its name. 3. Brief facts of the case are that a search was conducted under section 132 of the Income Tax Act, 1961 ["Act" in short] was carried out at the residential/ business premises in the cases of M/s Golden Shelters Private Ltd, NKV Krishna Group on 16.10.2019. During the course of search, a pen-drive was found and seized on 17.10.2019 from the residence of Mr. Badri Narayan Kota, which contains a folder named "Data" containing una....
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....e Assessing Officer has erroneously invoked the provisions of section 153A of the Act. She refers to assessment order and submits there was no search in the case of the assessee and no incriminating material was referred in the assessment order. She argued vehemently that the assessment made in the hands of the assessee without there being search and incriminating material found or seized in the case of the assessee, is not justified. She refers to the decision of the Hon'ble High Court of Gujarat in the case of CIT v. Ramesh D. Patel reported in [2014] 42 taxmann.com 540 (Gujarat) and argued that the provisions under section 153A of the Act make it very clear that only in the case of a person where search was initiated under section 132 or....
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.... group vide para 2 of the assessment order, but, however, nothing was referred to in the said assessment order that there was search in the case of the assessee or Panchnama executed. Further, we find the Assessing Officer made addition in the hands of the assessee under section 68 of the Act only on the statement of search in the case of M/s. Golden Sheltors Pvt. Ltd., NKV Krishna and the alleged seized material. Therefore, it clearly shows that the impugned addition is only on the basis of the statement of the above said person and also seized material therein. In this regard, the ld. AR placed reliance of the decision of the Hon'ble High Court of Gujarat in the case of PCIT v. Sunrise Finlease (P) Ltd. reported in [2018] 89 taxmann.com 1....
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....total income of six assessment years immediately preceding the assessment year relevant to the previous year in which such search is conducted or requisition is made, Section 153B of the Act provides for time limit for completion of assessment under section 153A. 6. Learned counsel for the assessee has rightly relied on a decision of the Orissa High Court in the case of Siksha 'O' Amusandhan v. CIT [2011] 336 ITR 112/[2012] 20 taxmann.com 798 in which it was held that provisions of section 153A make it clear that only in the case of a person where a search was initiated under section 132 or books of account or other documents or any assets were requisitioned under section 132A after 31.3.2002, the Assessing Officer could af....
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....ction (1) of section 139, after the expiry of one month from the date on which he was served with a notice under sub-section (1) of section 142 or subsection (2) of section 115WE or sub-section (2) of section 143 or after the completion of the assessment whichever is earlier, (b) where he has made no such return, after the expiry of the time allowed by the notice under sub-section (2) of section 115WD or sub-section (1) of section 142 or under sub-section (1) of section 115WH or under Section 148 for making of the return or by the notice under the first proviso to section 115WF or under the first proviso to section 144 to show cause why the assessment should not be completed to the best of the judgment of the Assessing Officer, whi....