TaxTMI 
TaxTMI 
TaxTMI 
2017 (6) TMI 592
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....arch proceedings, certain documents and books of accounts were seized from the residential premises from Shri Brij Mohan Gupta and from the residence of Shri Ram Avtar Singhal, Accountant of Shri Brij Mohan Gupta. As per the seized documents, as appearing in Annexure A-5 of Para H-4, it was the AO's observation that the assessee Smt. Abha Gupta, during the assessment year, had advanced cash loan to the tune of Rs. 31 lakh on different occasions, the peak of which was calculated at Rs. 20 lakh. The assessee had also earned interest thereon to the tune of Rs. 1,48,967/-. It was also inferred from the seized records coupled with the contents of the statement of Shri Ram Avtar Singhal, Accountant, that the figures of cash amount of such advance....
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....sing Officer proceeded to complete the assessment u/s 144 r.w.s. 148 of the Act by adding back Rs. 20 lakh u/s 69A of the Act. The Assessing Officer also brought to tax Rs. 1,48,967/- on account of interest earned on alleged advances. 5. Aggrieved, the assessee again approached the Ld. CIT (A) challenging the initiation of reassessment proceedings u/s 148 as well as challenging the additions on merits. However, the Ld. CIT (A) dismissed the assessee's appeal on both the grounds and now the assessee has approached the ITAT and has raised the following grounds of appeal: - "On the facts and in the circumstances of the case and in law, the Ld. CIT (A) was incorrect and unjustified in a) Holding that the order passed by the AO u/s 144/148....
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.... and had confirmed the addition. It was further submitted that in a related case of Shri Rajeev Gupta s/o Shri Brij Mohan Gupta, where cash loans were allegedly advanced and interest earned, the Assessing Officer had made additions of Rs. 21 lakh in assessment year 2000-01 and Rs. 31 lakh in assessment year 2002-03 which were deleted by the Ld. CIT(A) and on revenue's appeal, ITAT Delhi Bench in ITA Nos. 1304 and 1305/Del/2009 vide order dated 9th October 2009, had held that the name in the seized paper was not that of Shri Rajiv Gupta because there might be several persons with the name of Shri Rajiv Gupta and since the assessee had taken specific objection regarding the identity before the Assessing Officer, the Assessing Officer should h....
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....out on 15.12.2004. In the said order the relevant findings of the ITAT are found in Para 8 and 9 which are being reproduced here-inunder for a ready reference:- "We feel that before deciding as to whether the seized documents belongs to this assessee also or not, we should decide as to whether the name of "Rajiv Gupta" appearing in the seized papers is of the assessee or not. For this purpose, we have examined in detail all the statements of the assessee and of Shri BM Gupta and of the Accountant Shri RA Singhal and in their statements there is no question asked about the identity of "Rajiv Gupta", whose name is appearing in the seized paper. Before the Assessing Officer, the assessee has taken specific objection that this is not his name....
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....hese facts, we are of the considered opinion that it cannot be held that the name appearing in the seized document is of the assessee only. No purpose will be served even if we restore this matter back to the Assessing Officer since much time has elapsed. Under these facts, the addition may by the Assessing Officer cannot be sustained because the Assessing Officer could not establish that the name appearing in the seized papers is of the assessee only. 9. In view of our finding that the name mentioned in the seized paper cannot be held to be of the assessee, we feel that no adjudication is called for on the first aspect of the matter as to whether the seized documents can be said to be belonging to the assessee or not because even if it is ....