TaxTMI 
TaxTMI 
2017 (6) TMI 132
X X X X Extracts X X X X
X X X X Extracts X X X X
....006-07, all other grounds in all the assessment years are common. Therefore, we heard all appeals together and deem it appropriate to dispose of them by this common order. 3. First we take independent ground raised in the Asstt.Year 2006-07, which is not common in all other years. This is ground no.1. The assessee has pleaded that the ld.CIT(A) has erred in confirming addition of Rs. 4,85,000/-. 4. Brief facts of the case are that search under section 132 of the Income Tax Act, 1961 was conducted on 8.6.2010 in the cases of different builders at Surat. The assessee was also covered under search action, and consequently notice under section 153A of the Act was issued to the assessee on 8.6.2011. In response to this notice, the assessee has....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... ld.CIT(A) has observed that the sale consideration of Rs. 4,85,000/- shown in the purchase deed was not shown as investment in the books of accounts, therefore, the ld.CIT(A) has treated this amount as unexplained investment. The ld.counsel for the assessee submitted that the land was purchased by two persons. Therefore, total consideration cannot be assessed to tax in the case of the assessee. The assessee was owner to the extent of half-share and at the most he can be asked to give explanation for the source of half-share of Rs. 4,85,000/-. 6. With the assistance of the ld.representatives, we have gone through the record carefully. We find that the addition was made on the basis of documents found during the course of search, which is p....
X X X X Extracts X X X X
X X X X Extracts X X X X
....r years. The ld.CIT(A) has not recorded any finding on this issue in the Asstt.Year 2006-07 and 2007-08. In the Asstt.Year 2008-09, the ld.CIT(A) has reproduced the ground raised by the assessee with regard to charging of interest under section 234B of the Income Tax Act, but did not address the arguments raised by the assessee. The ld.CIT(A) has simply observed that the AO is directed to charge interest under section 234B as per law. This very finding has been made in other years. Grievance of the assessee is that during the course of search, Rs. 50.00 lakhs were found in cash which were seized. The assessee had moved an application on 14.9.2010 requesting the AO to adjust the cash seized towards advance tax required to be paid by the asse....