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Judgment
PER SATBEER SINGH GODARA, JM
This assessee’s appeal for assessment year 2007-08, arises against the Commissioner of Income Tax (Appeals)-29 [in short, the “CIT(A)”], New Delhi’s order dated 14.03.2016 in case no. 233/13-14/CIT(A)-29, involving proceedings under section 153A/143(3) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).
Case called twice. None appears at the assessee’s behest. It is accordingly proceeded ex-parte.
It emerges during the course of hearing with the able assistance coming from learned departmental representative that they have added the impugned sum of Rs.49,35,988/-; as per profits in P&L Account in assessment order dated 25.03.2013 as upheld in the CIT(A)’s lower appellate discussion.
Faced with this situation, learned CIT(DR) could hardly dispute the clinching fact emerging from the case file that the impugned assessment year 2007-08 is an “unabated” one since the departmental authorities had carried out section 132 search action in assessee’s case on 28.09.2010, which led to initiation of Section 153A proceedings. And that hon’ble apex court’s recent landmark decision in PCIT Vs. Abhisar Builwell P. Ltd. (2023) 454 ITR 212 (SC) has settled the law that such an addition involving an “unabated” assessment has to be based on the seized/incriminating material only.
We note from the case file that there is not even an iota of evidence indicating that the learned Assessing Officer has made the addition in assessee’s hands based on such an incriminating material. We thus find it a fit case to delete the impugned section 68 addition of Rs.49,35,988/- in very terms. Ordered accordingly.
This assessee’s appeal is allowed.