2014 (11) TMI 806

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....d/2010 for the Assessment Year 2004-05, IT(SS)A No. 74/Ahd/2010 for the Assessment Year 2005-06, IT(SS)A No. 75/Ahd/2010 for the assessment year 2006-07, Dated : 13.11.2013, raising the following common questions of law;              "1. Whether on the facts and circumstances of the case and in law, the ITAT was justified in upholding the CIT (Appeal)'s order that the peak of unexplained receipts and payments only should be brought to tax, without appreciating that there is no evidence in the seized papers of such nexus between the receipts and payments so as to show that the same funds have been rotated by the assessee?          &....

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....who is the brother of the respondent-assessee. During the course of search, certain material was found and on the basis of the same, the appellant-Revenue commenced the assessment proceedings. During the assessment proceedings, it was found that the Respondent-assessee had not disclosed certain amounts. Hence, the Respondent-assessee was asked to explain the same. However, the Respondentassessee did not file any reply. Therefore, certain additions came to be made to the income of the Respondent-assessee for the concerned assessment years. 4. Being aggrieved thereby, the Respondentassessee preferred appeals before the CIT(A), Ahmedabad, which partly allowed the appeals filed by the respondent-assessee. Pursuant thereto, the appellant-Reve....