Supreme Group Proprietor Keeps 153A Tax Additions Out as Karnataka HC Finds No Incriminating Search Material for Completed Assessments

A search under Section 132 of the Income-tax Act, 1961 was conducted at the business premises of Supreme Group on 24 November 2015. The assessee, its proprietor, was assessed under Section 153A read with Section 143(3) for assessment years 2012–13, 2013–14 and 2014–15, with additions based on material said to have been seized or gathered.

The CIT(A) partly allowed the assessee’s appeals, finding that the assessments had already been completed before the search and that no new material had been unearthed. The Tribunal dismissed the Revenue’s appeals, and the Revenue appealed to the High