2024 (1) TMI 748

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....10/2022 & 17/11/2022 against the assessment order passed by Assistant Commissioner of Income Tax, Central Circle-4, Delhi (hereinafter referred to as the 'Ld. AO') u/s 153A r.w.s 143(3) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') on 23/12/2019 for Assessment Years 2013-14 & 2014-15 respectively. 2. Identical issues are involved in both the appeals, hence, they are taken up together and disposed of by this common order for the sake of convenience. 3. We have heard the rival submissions and perused the materials available on record. The assessee filed his original return of income u/s 139 of the Act on 31/07/2013 declaring total income of Rs. 20,69,420/-. A search and seizure action u/s 132 of the Act was carried ....

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....n expenses by M/s Spring Travels Pvt. Ltd. It was also submitted that M/s Spring Travels Pvt. Ltd. had paid this expenditure of Rs. 30.753/- by cheque. In support of this, the assessee submitted the copy of bank statement of M/s Spring Travels Pvt. Ltd. This was filed as an additional evidence before the Ld. CIT(A). Accordingly, the remand report was sought by the Ld. CIT(A) from the Ld. AO. The Ld. AO in the remand report admitted to the fact that the transaction of Rs. 30,753/- pertains to Company M/s Spring Travel Pvt. Ltd. and not to the assessee. However, in view of the statement given by assessee u/s 132(4) of the Act that the said expenditure was incurred in cash, the ld. AO stated that the addition needs to be sustained. 5. The L....