Income tax appeal: Cash payment for flat purchase not linked to assessee. Revenue's appeal dismissed. Counter Objection upheld.

The CIT(A) deleted the addition to the assessee's income related to cash payments for flat purchases as the seized document did not conclusively link the cash payments to the assessee. The ITAT upheld this decision, noting the lack of direct evidence. The Revenue's appeal was dismissed, finding no infirmity in the CIT(A) order. Additionally, the assessee's Counter Objection was allowed based on a legal precedent, resulting in the quashing of the reassessment order. The Revenue's appeal was dismissed, and the assessee's Counter Objection was upheld.

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Issues involved: Appeal by Revenue against CIT(A) order related to assessment year 2007-08.

Grounds of appeal:
1. CIT(A) deletion of addition on undisclosed income for flat purchase based on Secretary's statement u/s 132(4).
2. CIT(A) deletion of addition based on non-jurisdictional ITAT decision.
3. CIT(A) deletion of addition based on challenged ITAT decision.
4. CIT(A) deletion of addition based on society's utilization of funds and profit earned.

Facts:
- Dream Land Cooperative Housing Society sold flats with payment details.
- AO believed income escaped assessment due to cash payment for flat.
- AO added cash payment amount to assessee's income.
- CIT(A) deleted addition citing lack of conclusive evidence.
- Only seized document was a computerized sheet from a third party.
- No direct evidence linking cash payment to assessee.
- Sale deed details and seized document discrepancies noted.
- CIT(A) emphasized lack of conclusive link to cash payment.

Decision:
- CIT(A) deleted addition as presumption from seized document not conclusive.
- ITAT concurred with CIT(A) that no direct evidence linked cash payment to assessee.
- AO's case solely based on seized document and third party statement.
- CIT(A) decision upheld due to lack of conclusive evidence.
- Revenue's appeal dismissed, no infirmity found in CIT(A) order.

Counter Objection (C.O.):
- Assessee's C.O. allowed based on Amritsar Bench decision regarding reassessment legality.
- Reassessment quashed as per section 153C, notice u/s 148 deemed illegal.
- Reassessment order rightly quashed by CIT(A) following legal procedure.
- Assessee's C.O. allowed, Revenue's appeal dismissed.

Conclusion:
- Revenue's appeal dismissed, Assessee's C.O. allowed.
- Order pronounced on 25th September, 2012.

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