TaxTMI 
TaxTMI 
2018 (12) TMI 914
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.... reads as under:- "1. That the search u/s 132 conducted at the premises of the appellant on 10.2.2012 was without jurisdiction and not based on any incriminating material on record. Therefore, the proceedings initiated u/s 153A were void abinitio. The consequent assessment u/s 153A read with 143(3) being illegal, erroneous and without jurisdiction, deserves to be quashed. 2. a) That the appellant had recorded the entire amount of investment of Rs. 1,50,00,000/- paid for purchase of space at Indirapuram Habitat Centre in his books of accounts. The CIT(Appeals) went wrong on facts and in law in sustaining the addition made by the assessing officer of a sum of Rs. 1,77,00,000/- as undisclosed amount expended for making the investment whic....
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....on mainly on the basis of (i) the details written on the hard disc found during the course of search from the premises Aerens Group, wherein payment through cheque and cash have been mentioned against the name of assessee at Sr. No.32, Shri I.E.Soomar appearing at Sr. No. 39 of the said hard disc had admitted the cash investment of Rs. 6.64 crores being made in the said project and had paid the taxes on the same; (iii) the said hard disc cannot be relied upon in part as the assessee has admitted the payment through cheque but denied the cash payment shown therein etc. In our view, a huge addition of Rs. 3,21,00,000 cannot be made in a casual manner without having corroborative evidence in support. It is a prevailing practice in the dealings....
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....basis of Email recovered during the course of search action at the premises of another person and there being no independent material available supporting such additions, was not justified. Besides, we also find substance in the contention of the Learned AR that assessment under sec. 153 A of the Act in absence of incriminating material found during the course of search at the premises of the assessee and in absence of abatement of assessment on the date of search, cannot be made in the present case as per the above cited decisions including the decision of Hon'ble jurisdictional Delhi High Court in the case of CIT vs. Kabul Chawla (supra). Under the circumstances, we are of the view that the Assessing Officer was not justified in. assuming....
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....quently, the impugned order of the ITAT calls for no interference of this Court. The question framed by this Court on 7hl February, 2017 is answered in negative, that is, in favour of the Assessee and against the Revenue." 5. He stated that in the case of the assessee also, the addition has been made under section 153A on the basis of same Annexure A-32 and therefore, the above decision of Hon'ble ITAT as well as Jurisdictional High Court would be squarely applicable. The learned DR on the other hand relied upon the orders of the authorities below. 6. We have carefully considered the arguments of both the sides and perused the material placed before us. From the reading of para 6.1.7 of the order of the learned CIT(A), it is evident that....
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....4, in both the above cases. The Assessing Officer reasoned out to prove the fact. There may not be a direct evidence gathered by the Assessing Officer for cash investment made by the appellant, but a probable conclusion from the circumstances are so strong that there is little doubt as to a vital fact. "preponderance of the evidence" which became essential in this case. The essential facts are similar in all the case, and the appellant is likely to loose, as the essential fact which is vital to the case i.e. investment in cash is proven or admitted by one of them. There is a relevancy of facts forming part of the same transactions." 7. Thus, admittedly the facts in the case of the assessee as well as Shri Subhash Khattar are identical. Th....
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....d 20th July, 2018 as amended vide letter dated F.No. 279/Misc. 142/2007-ITJ (Pt) dated 20th July, 2018 would be squarely applicable. Respectfully applying the same, we dismiss the Revenue's appeal. ITA No. 3113/Del/2015 10. In this appeal, the following grounds are raised:- 1. The Ld. Commissioner of Income Tax (Appeals) has erred in law and on facts in deleting the addition of Rs. 6,00,000/- on account of cash payment of the assessee. 2. The Ld. Commissioner of Income Tax (Appeals) has erred in law and on facts in deleting the addition of Rs. 26,59,000/- on account of cash found and seized of the assessee. 3. The Ld. Commissioner of Income Tax (Appeals) has erred in law and on facts in restricting the addition to Rs. 50,000/- as a....