2019 (4) TMI 1180

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....Tulsiyan a/w P.C. Tripathi, Advocate for Respondent. ORDER P.C. : 1. These Appeals are filed by the revenue to challenge the judgment of Income Tax Appellate Tribunal concerning same assessee. They have been heard together and would be disposed of by this common judgment. 2. The Appeals arise out of search and seizure action initiated by the revenue against the Association of Persons (....

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..... Having stated so, tribunal also proceeded to examine the additions made by the Assessing Officer for both assessment years as confirmed by the CIT (Appeals). The tribunal on merits held that the additions were totally impermissible. 4. Having heard learned Counsel for the parties and having perused documents on record, we are of the opinion that even though revenue may have an arguable case i....

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....stant case, it is an admitted fact that the revenue has not seized any other valuables, cash or investments corroborating the figure of Rs. 15.00 crores. Further the nothings made in panchanama shows that the search commenced in the residence of Shri Harshad Doshi at 1.30 a.m. (almost midnight) on 17.10.2008 and continued upto 1.00 am (again mid night) on 18.10.2008. We have noticed earlier that S....

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.... ascertain the truth. Under these set of facts, we are of the view that the loose sheet referred above cannot be considered to be a document that could be relied upon. Further, the facts and circumstances show that Shri Dilesh Shah was under some compulsion to admit additional income. The very fact that the assessee did not offer the same in the return of income shows that the assessee was not in ....