TaxTMI 
TaxTMI 
2017 (6) TMI 950
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..... 5,00,000/- and interest of Rs. 2,750/- thereon. 1.1 The learned CIT(A) erred in confirming the addition of Rs. 5,02,750/- on the ground of alleged unaccounted investment by way of deposit of Rs. 5,00,000 with Chhoriya Group and alleged interest receipt of Rs. 2,750/- thereon. On the facts and in the circumstances of the case, the addition of Rs. 5,02,750/- be deleted. 1.2 The learned CIT(A) failed to appreciate that there was no material on record, except the entry found in the rough book maintained by the Chhoriya Group in the handwriting of person connected therewith and as such no addition could be justified. 1.3 The learned CIT(A) erred in making an addition in the hands of the appellant while as the appellant was given to un....
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....ssessing Officer had proposed an addition of Rs. 5 lakhs in the hands of assessee on the basis of extract from rough cash book seized from the possession of Chhoriya group during the course of search on 22-08-2008. The assessee explained that the entry crediting the sum of Rs. 5 lakhs shown to have received from one "Shri Rajmal Lakhichand-th' Mohan". The assessee stressed that the said transaction did not relate to the assessee and he also pointed out that no person by name "Mohan" was known to the firm. The Assessing Officer rejecting the plea of the assessee made an addition of Rs. 5 lakhs on account of source of investment not being reflected in the books of account. Further addition was made of Rs. 2,750/- which was the entry entered i....
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....ransaction between Shri Ratanlal C. Bafna and Chhoriya Group of an AOP. Further evidence was found of transaction of sale and purchase of property between the two and also the transaction of jewellery purchase tallied. He stressed that in the absence of any such evidence found in the case of assessee, there is no merit in holding that the said documents relate to the assessee. In this regard he placed reliance on the ratio laid down by the Pune Bench of the Tribunal in the case of Tulsiram Jodharaj Pallod Vs ITO in ITA Nos. 1789,1790 & 1791/PN/2013 order dated 30-04-2015. 7. The Ld. Departmental Representative on the other hand placed reliance on the orders of CIT(A) and the Assessing Officer. 8. On the perusal of record the issue which a....