TaxTMI 
TaxTMI 
2011 (6) TMI 877
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....06. 2. All these appeals relate to the additions made in the case of the assessee on the basis of incriminating documents found during the course of search in the group cases of Shri Brij Mohan Gupta, wherein he had admitted of being involved in the unaccounted hundi transactions/cash loans on behalf of various parties and had disclosed the brokerage income earned by him in respect of such transactions. Accordingly based on those documents, following additions were made in the case of the assessee: - S.No. A.Y. Unexplained investment u/s 69A Undisclosed interest on such investment Total addition 1. 2001-02 46,00,000/- 5,52,500/- 51,52,500/- 2. 2002-03 &nb....
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....f such order which is in the case of ITO Vs. Anil Kumar Bansal (HUF) (Del.) (order dated 11th September, 2009 in ITA No. 1156/Del/09 A.Y. 2005-06) and also in the case of ITO Vs. M/s P.C. Chemicals (Del.) and is dated 25.02.2011 in ITA Nos. 4421 to 4424/Del/09 in respect of assessment years 2001-02 to 2003-04 & 2005-06 & CO Nos. 8 to 11/Del/09 for assessment years 2001-02 to 2003-04 & 2005-06, wherein the cross objections filed by the assessee were dismissed on account of being not pressed and the appeals of the department were also dismissed by following the earlier orders of the Tribunal in the case of ITO Vs. Anil Kumar (HUF) (supra). He, therefore, submitted that issue raised by the revenue as well as by the assessee are covered by the ....
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....ch was added by the Assessing Officer on account of income from undisclosed source. 2. The brief facts of the case are that assessee is an HUF and running a proprietary concern in the name and style of M/s. Ram Kishore & Sons which deals in trading of BOP Films, polyester and gift packing sheets. A search and seizure operation was carried out on 15.12.2004 in the case of Shri Brij Mohan Gupta, 1281-Gali Hinga Beg. Statement of Shri Rajiv Gupta S/o Shri BM Gupta and Shri Ram Avtar, accountant was recorded. In the search, a diary inventorized as Annexure A-5 was seized. Shri Rajiv Gupta and Ram Avtar Gupta have explained that Shir BM Gupta is engaged in the business of advancing money. He used to receive loan from different persons and fur....
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....ey to Shri BM Gupta. The Assessing Officer did not accept the contention of the assessee and putting reliance upon the statement of Shri Rajiv Gupta & Ram Avtar, he treated that Rs. 20 lacs mentioned in coded words of the diary seized at the premises of Shri BM Gupta as the money of assessee interest of Rs. 49,050/- and brokerage of Rs. 56,100/- were calculated by the Assessing Officer. He made an addition of Rs. 20,98,550 which include interest also. 4. On appeal, learned CIT(Appeals) has deleted the addition on the strength of Hon'ble Supreme Court in case of CBI vs. V.C. Sukla (1998) AIR 1406 (S.C). According to the CIT(Appeals), the assessee had furnished the details relating to the commission paid to Shri BM Gupta. This commissi....