2023 (9) TMI 498

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....h, Ahmedabad, in ITA No. 431/Ahd/2019 for assessment year 2011-12: "A. Whether on the facts and in the circumstances of the case and in law, the Appellate Tribunal was right in not considering categorical findings brought out by the assessing officer while passing the order u/s. 154 of the Act that the disclosure of cash of Rs. 15,50,000/- was neither accepted nor was any explanation/clarification furnished by the concerned firm M/s. M.K. Ceramics during the course of assessment proceedings? B. Whether on the facts and in the circumstances of the case and in law, the Appellate Tribunal was right in not appreciating the fact that the cash of Rs. 15,00,000/- found from the possession of the assessee remains unexplained and is therefore, ....

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....d therefore the amount of cash of Rs. 15,50,000/- cannot be added to the total income of the assessee. 3. The Asesssing Officer accepting the explanation of the assessee, passed the assessment order on 02.02.2013 under Section 143(3) of the Act and did not make any addition on account of the cash found from the premises of the assessee. 4. However, the Assessing Officer subsequently found that the cash found from the premises of the assessee of Rs. 15,50,000/- was not accepted by the partnership firm M/s. M.K. Ceramics in the assessment framed for the assessment year 2005-06 to 2011-12. The Assessing Officer was therefore of the view that there was mistake apparent on record in the order passed under Section 143(3) and issued notice unde....

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....d the finding of fact that in case if the Assessing Officer in the rectification proceedings under Section 154 of the Act has made independent addition which was not consciously made while framing the assessment under Section 143(3) of the Act, then such mistake cannot be said to be the mistake apparent on the record. It was also considered by the Tribunal that the long drawn proceedings was required to be adopted to reach to the conclusion that the cash found from the premises of the assessee represented the unexplained money under Section 69A of the Act in the given facts and circumstances of the case. 9. The Tribunal also referred to the statement of the assessee furnished during the course of the search recorded under Section 132(4) of....