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In the instant case, assessee preferred appeal against order of CIT, wherein CIT confirmed the action of AO. AO observed that the assessee had shown an amount of 20 lakh towards advance for sale of land in the balance sheet annexed to return of income, but, he could not adduce any evidence. inspite of availing sufficient time. The AO, therefore, presumed that the assessee did not have any evidence towards his claim of advance and, hence, treated the same as unexplained receipt in the hands of assessee and added the same to the returned income of assessee. Assessee submitted that addition made by AO based merely on the basis of information available on record submitted during the assessment proceedings, therefore, the addition made by the AO is not based on seized/incriminating material, therefore, the proceedings u/s 153A as void. Held that—As decided in many case laws without any incriminating material found during the course of search, no additional income can be brought to tax in the assessment u/s 153A of the Act even where earlier assessments were concluded u/s 143(3) of the Act. Respectfully, following all we hold that the assessments u/s 153A for all the A.Ys are not sustainable and they are accordingly set aside

Shanti Prime Publication Pvt. Ltd.

Section 132, 153A of Income Tax Act, 1961—In the instant case, assessee preferred appeal against order of CIT, wherein CIT confirmed the action of AO.

AO observed that the assessee had shown an amount of 20 lakh towards advance for sale of land in the balance sheet annexed to return of income, but, he could not adduce any evidence. inspite of availing sufficient time. The AO, therefore, presumed that the assessee did not have any evidence towards his claim of advance and, hence, treated the same as unexplained receipt in the hands of assessee and added the same to the returned income of assessee.

Assessee submitted that addition made by AO based merely on the basis of information available on record submitted during the assessment proceedings, therefore, the addition made by the AO is not based on seized/incriminating material, therefore, the proceedings u/s 153A as void.

Held that—As decided in many case laws without any incriminating material found during the course of search, no additional income can be brought to tax in the assessment u/s 153A of the Act even where earlier assessments were concluded u/s 143(3) of the Act. Respectfully, following all we hold that the assessments u/s 153A for all the A.Ys are not sustainable and they are accordingly set aside.[YELLAIAH SETTY, HYDERABAD. VERSUS ASST. COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE – 5, HYDERABAD.] [2018] [7] [ITCD Online] [49] [ITAT HYDERABAD]

In the instant case, assessee preferred appeal against order of CIT, wherein CIT confirmed the action of AO. AO observed that the assessee had shown an amount of 20 lakh towards advance for sale of land in the balance sheet annexed to return of income, but, he could not adduce any evidence. inspite of availing sufficient time. The AO, therefore, presumed that the assessee did not have any evidence towards his claim of advance and, hence, treated the same as unexplained receipt in the hands of assessee and added the same to the returned income of assessee. Assessee submitted that addition made by AO based merely on the basis of information available on record submitted during the assessment proceedings, therefore, the addition made by the AO is not based on seized/incriminating material, therefore, the proceedings u/s 153A as void. Held that—As decided in many case laws without any incriminating material found during the course of search, no additional income can be brought to tax in the assessment u/s 153A of the Act even where earlier assessments were concluded u/s 143(3) of the Act. Respectfully, following all we hold that the assessments u/s 153A for all the A.Ys are not sustainable and they are accordingly set aside

Shanti Prime Publication Pvt. Ltd.

Section 132, 153A of Income Tax Act, 1961—In the instant case, assessee preferred appeal against order of CIT, wherein CIT confirmed the action of AO.