Section 132 & 153A of the Income-tax Act, 1961—Search & seizure—Addition made by AO in the course of the scrutiny of the assessment primarily on the ground that no fresh relating material was discovered during the search and seizure proceedings under section 132 to justify the addition under section 153A was deleted

Facts :These appeals of the Revenue challenge the findings of the ITAT. The ITAT reversed the addition made by AO in the course of the scrutiny of the assessment primarily on the ground that no fresh relating material was discovered during the search and seizure proceedings under section 132 to justify the addition under section 153A.

Held, that the power given by the first proviso to assess income for six assessment years has to be confined to the undisclosed income unearthed during search and cannot include items which were disclosed in the original assessment proceedings. A perusal of the assessment order passed u/s 153A reveals that the AO has not made any reference whatsoever to any incriminating material found as a result of the search and the addition has been made entirely on the basis of allegation of accommodation entry which in turn is based on some material said to have been gathered from stock exchange but which does not specifically point out towards the assessee. In these circumstances, no question of law arises. - PR. CIT V/s AMITA GARG - [2018] 1 ITCD Online 375 (DEL)