2026 (1) TMI 1371

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....ppeal :- 1. Whether on the facts and circumstances of the case and in law, Ld. CIT(A) is correct in allowing relief to the assessee by holding that the additions were not based on seized / incriminating material when the order of the AO contains exhaustive details of incriminating material and the information regarding the assessee extracted from it? 2. Whether on the facts and circumstances of the case and in law, Ld. CIT(A) erred in holding that transactions of the assessee recorded in unaccounted / parallel books of accommodation entry provider do not constitute incriminating document of the assessee? 3. Whether on the facts and circumstances of the case and in law, Ld. CIT(A) is correct in allowing relief to t....

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....s of Section 153C(1) which clearly mentions that calculation of block period has to be done from the year of search? 6. Whether on the facts and under the circumstances of the case and in law, the CIT(A) was justified in holding that block periods for assessment u/s. 153C of the Act have to be calculated from the date of receipt of the books of accounts, documents, or assets seized, by the jurisdictional AO of the non searched person, even when the position of law is clarified after the amendment introduced by Finance Act, 2017, that the block period of 6 AYs and 10 AYs as mentioned in sub section (1) of Section 153C and Section 153A have same meaning and have to be calculated from the "assessment year relevant to the previous year....

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....lso requested that the delay in filing the appeal is regretted and may kindly be condoned at it was unintentional, and bonafide. Ld. AR could not controvert the aforesaid plea of the Revenue. After hearing the rival contentions and perusing the records, we are of the considered view that reasonable cause has been attributed to the Revenue which was not intentional, hence, we condone the delay of 73 days in filing the appeal before the Tribunal and proceed further. 4. Brief facts of the case are that the original return of income was filed, by the assessee on 23.9.2015 declaring income of Rs. 3,21,843/-. A search and seizure operation u/s. 132 of the Act was carried out on 18.10.2019 in the case of M/s Alankit Limited, Shri Alok Kumar Agg....