[aaykarbhavan] No 153A if no material found during search even for returns processed u/s 143(1)

 

Shri Atul Barot Versus The DCIT Central Circle 23, Mumbai

Validity of assessment made u/s 153A of the Act No incriminating material found during the search action u/s 132 of the Act Held that - The decision in The ACIT Cent. Cir. 33, Mumbai Versus Shri Jayendra P. Jhaveri 2014 (2) TMI 1131 - ITAT MUMBAI followed - the return was processed u/s. 143(1) of the Act but the same has attained finality due to the expiry of limitation period of twelve months from the end of the month in which the return was filed - the assessment is deemed to be completed and not pending on the date of search - no incriminating material was found from the premises of the assessee during the search u/s. 132 of the Act. BR BR In Jai Steel (India) v. ACIT 2013 (6) TMI 161 - RAJASTHAN HIGH COURT relied o

Regards

Prarthana Jalan

__._,_.___

receive alert on mobile, subscribe to SMS Channel named "aaykarbhavan"
[COST FREE]
SEND "on aaykarbhavan" TO 9870807070 FROM YOUR MOBILE.

To receive the mails from this group send message to aaykarbhavan-subscribe@yahoogroups.com

Visit Your Group

• New Members 1

• Privacy • Unsubscribe • Terms of Use