TaxTMI 
TaxTMI 
2014 (6) TMI 670
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....nt is as per paragraph 2 of the Application, for ready reference reproduced below: "2. The main contention of the assessee in respect of the above addition before the Hon'ble ITAT was that the evidence in form of information gathered b the learned Assessing Officer under section 133(6) of the Act was not supplied to the assessee during the course of assessment proceedings. The replies of all the retiring partners given to the learned Assessing Officer under Section 133(6) of the Act are placed at page 8 to 13 of the Paper Book and Gujarati version from pages 14 to 19 of the Paper Book. It was also argued before the Hon'ble ITAT was recorded on page 19 para 15 of the order that a perusal of the replies would show that all the erstwhile pa....
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.... He has informed that against the order of the Tribunal an appeal was filed before the Hon'ble Gujarat High Court and vide Tax Appeal No.1070 of 2006, order dated 28th of February, 2007, it was directed as under: "Learned counsel for the appellant submits that the Tribunal has used the material, which was not supplied and supplied only after the assessment orders for the block years are passed. At this stage, we cannot entertain this appeal, but, liberty is reserved to the appellant to move an appropriate application before the Tribunal and the Tribunal is directed to look into it again. This appeal stands disposed of." 4. On receiving the order of the Hon'ble High Court, the assessee had moved this Misc. Application, now under ....
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....h was raised by the assessee was that the Commissioner has erred in law and on facts in making an addition of Rs.18,30,000/- as undisclosed income from interest and sale of dumpers as the same were recovered in the returned income as invested in M/s. Ekta Corporation Ankaleshwar. The main objection of the AO was that the document of partnership deed of M/s. Ekta Corporation was executed on 24.4.1997, whereby assessee got 85% share of land of M/s. Ekta Corporation. According to AO, the impugned investment should have been made by the assessee on or before 24.09.1997. The AO had not given any credit of the amount received subsequent to 24.09.1997. Therefore, the claim of the assessee that the impugned unaccounted income was from the sale of d....
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....r on facts considering all those aspects. It was not at all a case of apparent mistake. The AO had relied upon the statement made at the time of search for making the impugned additions. Moreover, the seized material have not given any evidence that the payments to outgoing partners have been made out of the sale of three dumpers as alleged or out of the withdrawals from the bank account. Learned CIT(A) has also found that in the statement recorded at the time of search on 13th August, 2002, the assessee had not mentioned that the sale proceeds of dumpers have been used for making the payment to erstwhile partners. Out of the addition of Rs.18,30,000/- as made by the AO, learned CIT(A) has noted that the interest income was only to the tune....