2022 (6) TMI 1323

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....ds of appeal:- 1. "On the facts and in the circumstances of the case and in law, the learned CIT(A) has erred in deleting the addition on account of unexplained expenditure of Rs.70,000/-, the details of which were found in the Cash Transaction Record maintained in an excel sheet by Shri Ashok Sharma, which was found and seized during the search in the case of the Indiabulls Group." 2. On the facts and in the circumstances of the case and in law, whether the learned CIT(A) is justified in relying upon the decision of the Hon'ble Income Tax Settlement Commission under section 245D(4) of the Income tax Act, 1961, dated 30.04.2019, in the case of 16 other Indiabulls Group entities which has been challenged before the Hon'ble High C....

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....idered in the case of Sesa Goa Ltd. vs. JCIT reported in 423 ITR 426 (Bom) and PCIT vs. Chambal Fertilizers and Chemicals Ltd. in DB ITA No.52/2018." 6. On the facts and in the circumstances of the case and in law, the learned CTT(A) has erred in allowing the deduction of education cess of Rs.2,87,94,024/- from the total income of the assessee, relying upon the decision of the Hon'ble Jurisdictional High Court in the case of Sesa Goa Ltd. vs. JCIT reported in 423 ITR 426 (Bom), without appreciating that the same is pending for adjudication before the Hon'ble Supreme Court of India. 7. On the facts and in the circumstances of the case and in law, whether the learned CIT(A) is justified in allowing the deduction of education cess ....

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....re him, assessee raised an additional ground of appeal in respect of deduction of education cess of Rs.2,87,94,024/-. The learned CIT (A) admitted the same and allowed the claim following his order for A.Y. 2011-12. Therefore, the learned Assessing Officer is aggrieved with the same and has preferred this appeal. 04. We have heard the rival contentions. We have also perused the orders of the lower authorities. Ground no.1 to 3 relates to the addition of Rs.70,000/- as unexplained expenditure. We find that identical issue arose in the case of the assessee for A.Y. 2011-12, the learned CIT (A) has deleted the identical addition, the facts in paragraph no. 7.5 of the assessment order shows that the above entries on which the addition has been....