TaxTMI 
TaxTMI 
2025 (10) TMI 1475
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....ing up all the three appeals together for the sake of convenience since the issue involved are common in all the appeals and the counsel for the assessee are also one and the same. We will take up the appeal in ITA No. 1023/Bang/2025 for A.Y. 2018-19 as the lead case and therefore the grounds raised in the said appeal has been extracted and the decision arrived in the said appeal shall apply mutatis mutandis to the other two appeals in ITA Nos. 1024 & 1025/Bang/2025. Grounds raised by assessee in ITA No. 1023/Bang/2025 "1. Whether on the facts of the circumstances of the case, the ld. CIT(A) has erred in deleting the disallowance of Rs. 12,73,22,623/- made by the AO u/s 80IA of the Act. 2. Whether on the facts and circu....
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..... 2,83,86,494/-. The AO based on the search conducted and the seizure of the documents and also based on the allegation that the assessee had violated of the provisions of section 47(xiii) of the Act, made the disallowance. As against the said order, the assessee filed an appeal before the Ld.CIT(A). The Ld.CIT(A) allowed the claim in respect of the disallowance u/s. 80IA of the Act whereas remitted the disallowances of set off of brought forward loss for verifying the supporting documents and details to be filed by the assessee and thereafter allow the set off of brought forward losses. 4. As against the said order, the revenue is in appeal before this Tribunal. 5. At the time of hearing, the Ld.DR submitted that the Ld.CIT(A) had er....
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....have heard the arguments of both sides and perused the materials available on record. 8. From the assessment order, we find that there was a search operation conducted on 17/12/2020 and at that time, some alleged incriminating documents were found and seized by the department. Based on the said incriminating documents, the AO had come to the conclusion that the assessee company was formed by splitting up or reconstruction of a business already in existence and thereby violating the provisions of section 47(xiii) of the Act. On that score, the AO had denied the deduction claimed u/s. 80IA of the Act. Similarly, the set off of brought forward losses was also denied by the AO. 9. Based on the search conducted on 17/12/2020, assessments w....
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....ds recovered at the time of search from the assessee. Further, there is no suppression or escaped income made out by the AO, based on the seizure of the above said incriminating documents and therefore we are of the view that no assessment proceedings could be initiated u/s 153A of the Act when the assessment was completed. To arrive such a conclusion we relied on the judgement of the Hon'ble Supreme Court reported in 454 ITR page212 in the case of Abhisar Buildwell P Ltd." ................ ............... 5.13 In the present case, there are no violation of the conditions laid down in section 47(xiii) proviso (a) or (c) of the Act and therefore, the order of the AO treating the value of the assets and liabilities ....