2020 (11) TMI 487

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....r 2004-05. The appeal was admitted by a bench of this Court vide order dated 20.02.2020 on the following substantial questions of law: (i) Whether in law the findings of the tribunal is perverse inasmuch as the tribunal ignored the plea that the book was open as on the date of search and the cash was reconciled later, as on the date of the balance sheet? (ii) Whether in law, the tribunal was correct in ignoring that the balance sheet was audited which had reconciled the cash seized during search? (iii) Whether in law, was it correct for the tribunal to sustain the addition even when the appellant had reconciled the difference by explaining the cash found and seized? 2. Facts leading to filing of this appeal bri....

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....f accounts were not updated on the date of the search but updated book was produced at the time of assessment proceeding and before the Commissioner of Income Tax (Appeals) and with proper reconciliation supported by books of accounts, relevant documentary evidence and audited statement of accounts, which was subject to audit under Section 44AB of the Act. It was further held that no discrepancies were found. 4. The revenue thereupon filed an appeal before this court, viz., I.T.A.No.769/2008 on the issue of deletion of amount of cash seized during the course of the search. A bench of this court by judgment dated 02.08.2014 passed in I.T.A.No.760/2008 and other connected matters inter alia held that tribunal has recorded any finding with ....

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....randum of appeal. 7. We have considered the submissions made by learned counsel for the parties and have perused the record.  A bench of this court vide judgment dated 02.08.2014 passed in I.T.A.No.760/2008 and connected matters had remitted the matter to the tribunal in the following terms: In so far as the cash found at the time of search, Rs. 20.03.680/-, the third claim is concerned, the First Appellate Authority has affirmed the finding recorded by the tribunal. The assessee was in appeal. The tribunal has recorded any finding on this aspect of the matter. Again, the operative portion of the order, states that the appeal is allowed, it cannot be construed as setting aside the order of the appellate authority as no reas....