TaxTMI 
TaxTMI 
2023 (1) TMI 1342
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....isions of Income-tax Act, 1961 ["the act"]. Cross-Objection No. 44/Ind/2021, 45/Ind/2021 and 46/Ind/2021 are filed by assessee respectively out of those IT(SS)As. 2. At the time of hearing, the Ld. AR appearing on behalf of assessee had chosen not to press all three Cross-Objections, namely C.O. No. 44/Ind/2021, 45/Ind/2021 and 46/Ind/2021, filed by assessee. Hence the same are treated as dismissed at the request of Ld. AR. We would take up Revenue's appeals for adjudication. 3. The grounds raised by revenue are as under: IT(SS)A No. 32/Ind/2021 - Revenue's appeal for AY 2009-10: "(1) On the facts and in the circumstances of the case, the Ld. CIT(A) erred in law in deleting the addition of Rs. 1,80,71,675/-made by the Assessing Officer u/s 14A of the Income-tax Act, 1961 and has overlooked the findings of the Assessing Officer mentioned in the assessment-order. (2) On the facts and in the circumstances of the case, the Ld. CIT(A) erred in law in deleting the addition of Rs. 82,03,684/- made by the Assessing Officer on account of unaccounted interest payment on cash loan and has overlooked the findings of the Assessing Officer mentioned in the assessment-o....
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.... (2) On the facts and in the circumstances of the case, the Ld. CIT(A) erred in law in deleting the addition of Rs. 1,00,97,137/- made by the Assessing Officer u/s 14A of the Income-tax Act, 1961 and has overlooked the findings of the Assessing Officer mentioned in the assessment-order. (3) On the facts and in the circumstances of the case, the Ld. CIT(A) erred in law in deleting the addition of Rs. 35,67,34,692/- made on account of unaccounted investment and has overlooked the findings of the Assessing Officer mentioned in the assessment-order. (4) On the facts and in the circumstances of the case, the Ld. CIT(A) erred in law by holding only 8% of bogus transaction with paper entity Geet Exim Pvt. Ltd. as taxable while the assessee had claimed expenses of Rs. 38,77,55,100/- as sub-contract expenses and that actual work carried by Geet Exim Pvt. Ltd. remain unproved." 4. Heard the learned Representatives of both sides at length and case records perused. 5. Briefly stated the facts are such that the assessee is company engaged in the business of developing, operation and maintenance of infrastructure projects of roads and bridges, toll collection con....
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....ively. While deciding appeal of AY 2009-10, though ITAT agreed in principle for deletion of disallowance but, however, remanded the matter back to AO for a fresh decision after certain verification. Further, while deciding appeal of AY 2010- 11 and 2011-12, the ITAT deleted the disallowance. Ld. AR submitted that in the present appeals, the same additions have again been made by Ld. AO. Hence, the issue being already settled in first-round of litigation, no disallowance ought to have been made. Ld. AR submitted that the Ld. CIT(A) has made an elaborate discussion not only on factual and legal aspects of the disallowance but also considered the aforesaid Orders already passed by ITAT and thereafter deleted the disallowance. Ld. AR submitted that there is no infirmity in the order of Ld. CIT(A), hence the deletion of disallowance must be upheld. 11. Ld. DR dutifully supported the orders of Ld. AO and argued that the disallowance must be sustained. 12. We have considered the facts, rival submissions and perused the material held on record. We observe that the Ld. CIT(A) has made a detailed discussion of the entire gamut of issue by considering factual and legal aspects and came ....
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....ng tally-accounting training under Shri G.C. Patidar, who used to provide hypothetical entries for training purpose and that is why a company named "XYZ 08092" was opened in the tally-system. It was further submitted that Shri G.C. Patidar worked as an accountant in the office of assessee and also worked for others. It was further submitted that Shri G.C. Patidar had informed the assessee that most of the entries were hypothetical and a few entries were copied from actual transactions of assessee for imparting training to Mr. Nilesh Tawrech. The assessee also submitted an affidavit dated 28.12.2016 of Shri G.C. Patidar in this regard. The assessee also submitted that "XYZ 08092" company is a dummy company opened by Shri G.C. Patidar / Shri Nilesh Tawrech and the assessee had neither awareness nor any connection with such company. In the affidavit dated 28.12.2016, Shri G.C. Patidar also retracted his statements recorded during search. This way, the assessee disowned the "XVZ 08092" company as well as the cash-transactions alleged by authorities. However, Ld. AO did not accept the submissions of assessee mainly for the reasons that (i) the laptop having been found from possession of....
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....earing, in relation to apprehension with regards to entries in XYZ tally data and paper seized from premises of AIDPL. The same is reproduced as under: XXX (not being reproduced for brevity) 4.2.2 I have considered the facts of the case, plea raised by the appellant and findings of the AO. Admittedly, the sole basis of such huge addition is one the tally data recovered from laptop of old employee and loose papers sheets seized vide LPS-1 to 8 from premises of Shri G C Patidar. During the course of search, statement of Shri GC Patidar was recorded on oath which has been retracted vide affidavit dated 28.12.2016. Since, the statement given during search has been retracted, therefore, the same cannot be relied upon. As a matter of fact the appellant before, AO as well as before me has stated that the entries in respect of laptop data which has been seized from the office of the company was used by one of its employee Mr. Nilesh Tawrech who was taking tally accounting training under Shri G.C. Patidar, who used to provide him hypothetical entries for learning purpose for that reason and for learning purpose name of the company was taken as 'XYZ'. The appellant has clai....
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.... this paper is relating to "some tally account in the name of XYZ 0809 2 from 01.04.2008 to 31.03.2009 & 01.04.2009 to 31.03.2010". Appellant has strongly contended that the said printouts were taken by Shri G.C. Patidar and does not belong to him. The owner and creator of the documents have admitted that the said impugned printouts have been made by his exemployee who is no more and had also explained the reason for preparing such documents. Shri G.C. Patidar has clearly stated that the tally accounts have been prepared for training purpose only and the data are picked from different sources which also includes random data of appellant. The AO failed to consider that neither the appellant nor his accountant has stated that any such firm actually exists and the transactions as mentioned in the seized printouts have been executed. The additions have been imposed on sheer presumption and assumption basis. Further, the AO did not even bother to carry out independent enquiries from the person whose names are mentioned on LPS-1 & LPS 8 which was seized from the premises of G C Patidar. The trainee junior Nilesh Tawarech has untimely passed away. Therefore, it is impossible for the appel....
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....rtantly, the AO himself has admitted that the data is getting partially corroborated. 4.2.4 XXX (relates to other ground) 4.2.5 Another reasoning provided by the AO in support of his allegation that one BS-4 was found during the course of search which contain names of certain persons who are invitees to the party. The AO has applied all possible guess work in support of his allegation and stated that the name of the person whose names are written on BS-04 are known to appellant and in all probability will give loan to appellant. Even if the perusal of the contents of the BS 4 is made, there is only a single name matching with the name from whom loans are allegedly borrowed in cash, which is as under:- Sl. Name of the alleged Lenders on the basis of tally data./ loose sheets Name as per BS-4 who are invitees to the party 1 Anil Poddar Name not found 2 DD Singhal Name not found 3 Dev Modi Name not found 4 DM Poddar Name not found 5 Dr. Modi Name not found 6 G.L. Modi Name not found 7 Kailash Agrawal Name not found 8 Kavita Nagliya Name not found 9 Manju Anil Modi Name not found....
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....e to draw an adverse inference against the assessee. Case laws supporting this proposition are as under:- ACIT Vs. Satyapal Wassan (2007) 295 ITR (AT) 352 (Jabalpur) Held that "the crux of these decisions is that a document found during the course of search must be a speaking one and without any second interpretation, must reflect all the details about the transactions of the assessee in the relevant assessment year. Any gap in the various components as mentioned in section 4 of the Income Tax Act must be filled up by the Assessing Officer through investigations and correlations with the other material found either during the course of the search or on the investigation. As a result, we hold that document No.7 is a non-speaking document." Most important ratio laid down in the said judgment is that "impugned document" must be speaking one and without any second interpretation and must reflect all the details about transactions of the assessee. In the instant case, the dummy tally account was created for training purposes by Shri G.C. Patidar but taking data from different sources including that of appellant. It would not be out of world to point o....
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....r evidence found during the course of search or brought on record by the AO to show that the said expenditure was actually incurred by the assessee, the same cannot be added to the undisclosed income of the assessee by invoking the provisions of s. 69C-Assessee explained that the said entries represented estimates made by its employees in respect of proposed expenditure-There is no evidence on record to rebut/controvert the said explanation- Additions not sustainable CIT Vs. S M Agarwal (2007) 293 ITR 43 (Del) - Held that - "In this case the department seized documents "Annexure A-28 p. 15, - gives the details of certain handwritten monetary transactions which shows that the assessee had given a loan of Rs. 22.5 lacs on interest and earned interest income of Rs. 3.55 lacs on it. The Tribunal hold this document as dumb document. The relevant findings of the Tribunal as mentioned in the above order is as under:- "We have ourselves examined the contents of the document and are unable to draw any clear and positive conclusion on the basis of figures noted on it. The letters 'H.S.', 'T.2' and 'D-Shop' cannot be explained and no material has b....
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....ent placed at assessee's paper book-I pp. 48 and 50. The document does not state of any date or the year against the entries written therein. It does not show whether the assessee has made or received any payment. It also cannot be deciphered from the said documents that the entries therein pertain to the block period. The AO also did not bring on record any material to show that any investment has been made by the assessee in any chit fund company or otherwise. The document found and seized might raise strong suspicion, but it could not be held as conclusive evidence without bringing some corroborative material on record. The document contained only the rough calculations and was silent about any investment. On the basis of such a dumb document, it cannot be said that there were investments made in fact by the assessee. Heavy onus lay upon the Revenue to prove that the document gives rise to undisclosed investment by the assessee. This onus has not been discharged. Accordingly no addition of undisclosed income could be made on the basis of such a document. Such a view has also been entertained by the Hon'ble Allahabad High Court in CIT vs. Dayachand Jain Vaidya (1975) 98 ITR 280 (....
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....the books of accounts regularly kept, depending on the nature of occupation, that those are admissible 17. It has further been laid down in V.C. Shukla (Supra) as to the value of entries in the books of account, that such statement shall not alone be sufficient evidence to charge any person with liability, even if they are relevant and admissible, and that they are only corroborative evidence. It has been held even then independent evidence is necessary as to trustworthiness of those entries which is a requirement to fasten the liability. 18. This Court has further laid down in V.C. Shukla (Supra) that meaning of account book would be spiral note book/pad but not loose sheets. The following extract being relevant is quoted hereinbelow :- "14. In setting aside the order of the trial court, the High Court accepted the contention of the respondents that the documents were not admissible in evidence under Section 34 with the following words: "An account presupposes the existence of two persons such as a seller and a purchaser, creditor and debtor. Admittedly, the alleged diaries in the present case are not records of the entries arising out of a cont....
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....ets of papers are wholly irrelevant as evidence being not admissible under Section 34 so as to constitute evidence with respect to the transactions mentioned therein being of no evidentiary value. The entire prosecution based upon such entries which led to the investigation was quashed by this Court. 4.2.7 Further, in numerous other case laws courts have consistently upheld the view that no addition and penalty could be imposed in the hands of the assessee on the basis of the dumb loose papers seized during search, in absence of any corroborative material to show undisclosed cash loan given/taken by the appellant. Some of the case laws are as under:- (i) M M Financiers (P) Ltd Vs. DCIT (2007) 107 TTJ (Chennai) Held that "no addition could be made in the hands of assessee on the basis of the dumb loose slips seized from his residence, in the absence of any corroborative material to show payment of any undisclosed consideration by the assessee towards purchase of land". (ii) Monga Metals (P) Ltd Vs. ACIT 67 TTJ 247 (All. Trib): Holding that Revenue has to discharge its burden of proof that the figures appearing in the loose papers....
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....search and seizure which are on loose papers are being made the basis to add income of respondent-appellant - In the light of the Supreme Court judgments, no case for interference is made out with the order passed by ITAT - Moreover no substantial question of law arise in the present appeal - Appeal is dismissed" It is settled legal position that onus of proof is on the person who makes any allegation and not on the person who has to defend. As per legal maxim "affairmanti non neganti incumbit probation" means burden of proof lies upon him who affirms and not upon him who denies. Similarly as per doctrine of common law "incumbit probation qui digit non qui negat" i.e. burden lies upon one who alleges and not upon one who deny the existence of the fact. The AO has failed to discharge his onus of proof especially when penalty has been imposed under "deeming fiction". In view of this lacune on the part of AO, the penalty imposed is legally not sustainable. As held in the case of CIT v/s KP Varghese 131 ITR 574 (SC) by Hon'ble Apex Court in absence of evidence that actually assessee paid more amount than declared in registered deed, no addition can be made. In the case of Bans....
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....which cannot be disbelieved. Hon. ITAT Indore Bench in the case of Dr. Yogiraj Sharma Vs. Asstt CIT (2015) 25 ITJ 105 (Indore Tribunal); [2016] 69 taxmann.com 366 (Indore - Trib.)/[2015] 169 TTJ 547 (Indore - Trib.) categorically held that department has to bring cogent evidence to prove that transaction has actually taken place and inference cannot take the place of actuality . The relevant para is reproduced as under, "In this case also we noted that the revenue authorities tried to corelate these figures with the various supplies made to M.P Health Dept. but AO did not call any of the parties or if called for has not brought statement of any of the parties, if recorded, on record to prove whether these parties have paid any commission to the Assessee. Even no information was supplied or given to us or brought on records what happened in the case of these parties. Inference was simply drawn on the basis of the interpretation given to the various figures appearing in the loose papers. Inference, as we have already held, whatsoever strong, cannot take the place of actuality. We have gone through the various decisions as has been relied." Hon. Supreme Cour....
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....hom monies are receivable in the books of accounts, is clearly outside the ambit of the provision of Section 269SS of the Act, because passing such entries does not involve acceptance of any loan or deposit of money. In the present case, admittedly no money was transacted other than through banking channels. M/s PACL India Ltd. made certain payments through banking channels to land owners. This payment made on behalf of the assessee was recorded by the assessee in its books by crediting the account of M/s PACL India Ltd. In view of this admitted position, no infringement of Section 269SS of the Act is made out." In the present case, the entries during the course of training in a dummy Company XYZ found in one Laptop and some loose sheets found at the premises of G.C. Patidar are the sole basis. Neither there is any payment or receipt of money nor these entries have established any Debtor Creditor relationship. The taking or accepting a loan is a bilateral action but there is nothing on record to suggest such essential bilateral character which is vital to constitute a transaction of loan or deposit. Any person of ordinary prudence, giving loan in cash would ask for securit....
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.... In the case of DCIT Vs. Home Developers Pvt Ltd, Hon Delhi High Court on 23rd May, 2012 in ITA No. 301/2012/ 304/2012 and 305/2012 held that:- The Revenue filed appeal against the order of the ITAT before Hon'ble Jurisdictional High Court. The Hon'ble Jurisdictional High Court, vide order dated 23rd May, 2012 in ITA Nos.301/2012, 304/2012 & 305/2012, dismissed the Revenue's appeals with the following finding:- "5. Learned counsel for the Revenue has relied on the statement of Yogesh Gupta recorded on 31st May, 2006. in the said statement Yogesh Gupta had disclosed and surrendered an amount of Rs.13.05 crores as additional income in the financial year 2005-06. This included Rs.2 crores in his own hand and Rs.9.05 crores as income of Real Tech Projects Pvt. Ltd. Rs.2 crores was disclosed as undeclared income of Home Developers Pvt. Ltd. In the said statement in question Nos. 11 and 12 Yogesh Gupta 16 others was asked to explain document A-12. Yogesh Gupta had stated that these were unaccounted transactions in cash. No question was put to state or furnish the details of the writer or recipient i.e. the details of the companies, which had received t....
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....sh loan and nor the interest attributable thereon can be said to be a real transaction (relates to other ground, hence stricken through). Thus from the above discussion it is very clear that none of the such transaction, i.e. firstly cash loan taken by appellant, secondly repayment of loan in cash by the appellant, thirdly, loan given by appellant to its directors and fourthly, interest payment on loan taken by appellant materialized. Thus, the AO was not justified in making additions on the basis of dumb documents which were found during the course of search. Therefore, additions made by the AO amounting to Rs. 14,83,394/- on account of unaccounted interest paid to AIDPL (Para 13.4.10 of assessment order) (relates to other ground, hence stricken through)., Rs.82,03,684/- on account of interest payment made in cash (Para 13.2.12 of assessment order ) & Rs. 5,52,49,940/- on account of cash loan advanced by PATH to its directors as per XYZ tally data are Deleted. Therefore appeal on these grounds is Allowed." 17. Before us, the Ld. DR relied upon the assessment-order and Ld. AR relied upon the order of first-appeal. 18. We have considered rival submissions of both sides and per....
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....the cash-loans taken by assessee, which are very much recorded in the tally-data / loose-papers seized. (v) Statements of Shri G.C. Patidar were also recorded by authorities on 27.08.2014 u/s 132(4) of the Act. The statements as re-produced by Ld. AO in Para No. 13.3 of assessment-order, are scanned below: On going through these statements, we observe that Shri G.C. Patidar has not only admitted the cash-loans taken by assessee but also explained the modus operandi adopted in that regard. These statements, which are recorded during the proceeding of section 132(4) have an evidentiary value and cannot be taken lightly. (vi) In Para No. 4.2.2., the Ld. CIT(A) has taken into account "During the course of search, statement of Shri GC Patidar was recorded on oath which has been retracted vide affidavit dated 28.12.2016. Since, the statement given during search has been retracted, therefore, the same cannot be relied upon." On perusal of records, we observe that the affidavit dated 28.12.2016, though made in the name of Assessing Officer, yet there is no whisper by Ld. AO in the assessment-order on affidavit having been filed or the contents of affidavit. It is....
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....A) and uphold the addition of Rs. 82,03,684/- made by Ld. AO. Hence, this ground is allowed. Ground No. 3 of Revenue's appeal for AY 2009-10 (Rs. 14,83,394): 20. This ground relates to the addition of unaccounted interest payment on cash-loans. 21. The facts qua this addition are such that during the course of search conducted on one M/s Agroh Infrastructure Developers Pvt. Ltd (AIDPL), the authorities seized a loose paper marked as "LPS-1-Page No. 21 / 23", which contained details of certain financial transactions. The document contained two tables, the upper-table contained the name of assessee and the transactions which were corroborated by the books of assessee. But the lower-table neither contained the name of assessee nor the transactions mentioned therein were corroborated by assessee's books. However, the Ld. AO attributed the transactions mentioned in the lower-table to the assessee for the reason that the transactions mentioned in the upper-table were corroborated to assessee and hence the document has to be considered in entirety. Based thereon, the Ld. AO framed a view that the assessee has taken a cash loan of Rs. 1,15,00,000/- during 27/03/2008 to 31/03/2008 ....
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....sment admitted that they have given loan to PATH. The statement of the Director wherein they admitted giving loan to PATH has not been provided nor the opportunity to cross examination was made available. It is important to mention that the buy back of shares is duly accounted in audited books of account of appellant and the impugned loose papers were not found from premises of the appellant. Therefore, the AO is not justified in presuming buyback of shares as cash loan and interest on a loan was equally hypothetical. The statement given which has to be used against the assessee has to be confronted and opportunity to cross examine has to be provided, which squarely apply in relation to loose paper seized from the premises of Agroh where the statement was taken behind the back. 4.2.11 Last but not the least, the loose papers relating to alleged loan and interest were found and seized from premises of Agroh Group of Indore located at Aqua Point, Umaria, Mhow as page no 19-23 of LPS-1. As far as legality of the addition, it is settled position of law that no addition/ disallowance can be made to the total income of the appellant in absence of any incriminating docum....
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....e provisions for making assessment in case of material found in the course of the search from the premises of the assessee as well as the material found in the course of search at the premises of the third party. The AO is required to follow the procedure laid down in the Act for making the assessment and he cannot devise his own procedure for shortcut methods. In our considered opinion, when the case of the assessee is covered u/s 153A and if reliance is placed on the incriminating material found during the course of search of third party, then sec 153C would be applicable and have to be adhered to. Thus, in the instant case, the AO was required to first complete the proceedings u/s 153A in hand, which were initiated by way of notice dt.30-6-14 and thereafter, he was at liberty to take action u/s 153C for bringing the material found from the premise of Shri Ashok Choudhary to tax in the hands of the assessee. 5.7. In Shivani Mahajan (Del-Trib) dt.19-3-19 ITA No.5585/DelTrib/2015, identical que was raised before the Tribunal as under: "9. we find that in these appeals, following 2 questions arise for our consideration: (i) Whether any material found in th....
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.... addition of Rs.3.3 crores, made protectively on the basis of the documents found from the premises of the third party, by the AO and upheld by the ld CIT(A) on substantive basis, is deleted. The ground No.6.2 is accordingly allowed. Further Hon'ble Kolkata Tribunal in the case Krishna Kumar Singhania (2018) 168 ITD 271 (Kol-Trib) dt.6-12-17, where in Para 10 it was held as under: "10. We find that it is not in dispute that there were no documents that were seized from the premises of the assessee except loose sheets vide seized document reference KKS/1 comprising of 8 pages, for which satisfactory Explanation has been given by the assessee and no addition was made by the ld AO on this seized document. The seized document used by the ld AO for making the addition in sec 153A assessment is CG/1 to 11 and CG/HD/1 which were seized only from the office premises of 'Cygnus group' of companies in which assessee is a director. In this regard, it would be pertinent to note that as per sec 292C, there is a presumption that the documents, assets, books of accounts etc found at the time of search in the premises of a person is always presumed to be belonging to him/them unl....
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....vations made by Ld. CIT(A) that the impugned seized document which is the basis of making addition in the hands of assessee, was in fact seized from the premise of AIDPL and not from assessee, hence no presumption u/s 292C can be drawn against assessee; (ii) no addition can be made on the assessee u/s 153A on the basis of document found during search conducted upon someone else, particularly because the AY 2009-10 under consideration is a non-abated assessment-year; and (iii) the Ld. AO has not provided any opportunity of cross-examination of AIDPL to the assessee before relying upon the document found in possession of AIDPL. Thus, keeping in view these serious infirmities, the Ld. AO is not justified in using the impugned document against assessee for drawing adverse inferences and making any addition. Being so, we are in agreement with the Ld. CIT(A) that the addition of Rs. 14,83,394/- is not sustainable. We, therefore, approve the action of Ld. CIT(A). This ground is, thus, dismissed. Ground No. 4 of Revenue's appeal for AY 2009-10 (Rs. 5,52,49,940), Ground No. 3 of Revenue's appeal for AY 2010-11 (Rs. 5,37,00,603): 25. These grounds relate to the additions on account ....
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....aggregate sum of Rs. 1,86,21,229/- in various assessment-years to cover up this issue. But, however, the Ld. AO rejected submission of assessee and made an addition of Rs. 1,29,09,512/- in AY 2011-12 under consideration, by observing and holding as under: "10.2.4 From the submission of assessee it can be seen that there is no second doubt about the fact that huge amount of cash is generated by the assessee through bogus payment. The assessee is stating partial truth and is trying to suppressed the tax liability. In the seized excel most important sheet is sheet "Main Req." appearing in File "Required" at the location 'Working Copy - Data - Ajaychouhansystems - Attachments - Excel Files' From this sheet the unaccounted generation of cash through two petrol pumps namely Hari Service Station and Maliram Filing Station. The main sheet is filtered and the transactions related to said petrol pumps also confronted to the assessee vide note sheet dated 27.12.2016. In response assessee mentioned that "this office has verified the sheet". The assessee has again stated partial truth the complete sheet is a big sheet in which numerous transactions are mentioned whereas the sheet which....
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....2011 Cash recd (Maliram) 200000 17.10.2011 Hari service station Diesel bill 6126793 3000000 RTGS HO by 21.10.2011 Cash recd (Maliram) 500000 11.11.2011 Hari service station Diesel bill 1799233 RTGS from 16.11.2011 Cash recd (Maliram) 500000 07.12.2011 Cash recd (Maliram) 500000 07.12.2011 Hari service station Diesel bill 1783030 15.12.2011 Hari service station Diesel bill 6182836 5000000 RTGS from 19.12.2011 Hari service station Diesel bill 2468478 2000000 RTGS from 31.12.2011 Hari service station Diesel bill 568976 10.01.2012 Hari service station Diesel bill 419332 33493271 10.2.5 On the basis of the discussion above, it is clear that total amount of bogus payment made to Maliram Filing Station and Hari Service Station is Rs. 3,34,93,271/-. 10.2.6 Considering all the fact mentioned above the submission of the assessee and incriminating nature of payment made ....
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....e course of search, the authorities found that the assessee had booked bogus expenditure of Rs. 38,77,55,100/- on account of sub-contract payment to GEPL. However, while completing assessment u/s 153A vide assessment-order dated 30.12.2016, the Ld. AO did not make any addition. Subsequently, the Ld. PCIT took revisionary-action u/s 263 vide revision order dated 14.03.2019 and directed the Ld. AO to re-frame assessment. In pursuance thereof, the Ld. AO passed a newer assessment-order dated 11.12.2019 after making disallowance of Rs. 38,77,55,100/-. The assessee filed a separate appeal against the newer assessment-order dated 11.12.2019 to Ld. CIT(A) assailing the impugned addition. The Ld. CIT(A) decided assessee's appeal in a consolidated appeal-order dated 06.07.2020, whereby he allowed relief of Rs. 35,67,34,692/-. The concluding para of the order of Ld. CIT(A) is reproduced below: "4.3.14 Therefore, in view of the above judicial pronouncement and by Hon'ble jurisdictional High Court in the case of Manmohan Sadani (Supra) & CIT Vs. Balchand Ajit Kumar (Supra), the income which ought to have been taxed comes at Rs. 3,10,20,408/- (Rs. 38,77,55,100/- x 8.00%) which is Confi....
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.... under: पà¥à¤°à¤¶à¥à¤¨ 13 उतà¥à¤¤à¤° पà¥à¤°à¤¶à¥à¤¨ 14 उतà¥à¤¤à¤° पà¥à¤°à¤¶à¥à¤¨ 15 (केनà¥à¤¦à¥à¤°à¥€à¤¯ (4) of the Act. The relevant part of the इन सूचीबदà¥à¤§ दसà¥à¤¤à¤¾à¤µà¥‡à¤œà¥‹à¤‚ में से à¤à¤• दसà¥à¤¤à¤¾à¤µà¥‡à¤œ LPS-1 आपले विजाया जा रहा है, कृपà¥à¤¯à¤¾ उकà¥à¤¤ दसà¥à¤¤à¤¾à¤µà¥‡à¤œ का अवलोकन कर बतायें कि इस दसà¥à¤¤à¤¾à¤µà¥‡à¤œ की पà¥à¤°à¤•à¥ƒà¤¤à¤¿ कà¥à¤¯à¤¾ है तथा यह किससे संबंधित है? तथ....
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....¤¾à¤œà¤¾à¤° से नगद à¤à¤µà¤‚ बैंक के माधà¥à¤¯à¤® से लिये गये उधार से संबंधित है। यह पà¥à¤°à¤¤à¤¿à¤·à¥à¤ ियाठइनà¥à¤¹à¥€ उधार ली गई राशियों से संबंधित है । कृपया दसà¥à¤¤à¤¾à¤µà¥‡à¤œ LPS-1 के पृषà¥à¤ कà¥à¤°à¤®à¤¾à¤‚क 16 पर दरà¥à¤·à¤¾à¤¯à¥€ गई पà¥à¤°à¤µà¤¿à¤·à¥à¤Ÿà¤¿à¤¯à¥‹à¤‚ में से कोई à¤à¤• पà¥à¤°à¤µà¤¿à¤·à¥à¤Ÿà¤¿ उदाहरण लेकर समà¤à¤¾à¤¯à¥‡ ? ....
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.... 20,00,000/- रूपये और लिये गये 06.12.2013 को थे, अरà¥à¤¥à¤¾à¤¤ 6 सितंबर 2010 को मूल ऋण 55,00,000/- लिया गया तथा 20,00,000/- और लिया गया. इस पà¥à¤°à¤•à¤¾à¤° कà¥à¤² 75,00,000/- रूपये उधार लिये गये जो कि 6 जून 2014 को दिये थे। जिसे बाद में 06.12.2014 तक बढ़ा दिया गया। कृपया बताà¤à¤‚ पूरà¥à¤µ पà¥à¤°à¤ªà¥à¤¨ में वरà¥à¤£à¤¿à¤¤ राषि कितने % बà¥à¤¯à¤¾à¤œ....
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.... यह नगर उधार की रातà¥à¤°à¤¿ à¤à¥€ नरेनà¥à¤¦à¥à¤° काला से उधार लेकर कंपनी (पाथ इणà¥à¤¡à¤¿à¤¯à¤¾ लिमि.) को उपलबà¥à¤§ करायी, तथा मैंने ही बà¥à¤¯à¤¾à¤œ की राषिनगद रूप में शà¥à¤°à¥€ नरेनà¥à¤¦à¥à¤° काला को अदा की। कृपया बताà¤à¤ कि इस नगद उधार लेन-देन से संबंधित नगद राषि आप कंपनी के कà¤....
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....¤à¥ˆà¤¯à¤¾à¤° की जाती थी.. तथा किस कारà¥à¤¯à¤¾à¤²à¤¯ में किस कमà¥à¤ªà¥à¤¯à¥à¤Ÿà¤° पर तैयार की जाती थी? यह Sheets शà¥à¤°à¥€ अजय चौहान के दà¥à¤µà¤¾à¤°à¤¾ ही तैयार कि जाती थी तथा वे इसे पाथ इणà¥à¤¡à¤¿à¤¯à¤¾ लिमि. के 76, माल रोड, महू सà¥à¤¥à¤¿à¤¤ कारà¥à¤¯à¤¾à¤²à¤¯ पर शà¥à¤°à¥€ अजय चौहान के कमà¥à¤ªà¥à¤¯à¥à¤Ÿà¤° पर उनके दà¥à¤µà¤¾à¤°à¤¾ तैयार....
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....¤¨ के साथ 19% विशेष तौर से दरà¥à¤¶à¤¾à¤¯à¤¾ गया है। अतः उतà¥à¤¤à¤° कà¥à¤°à¤®à¤¾à¤‚क 16 में आपके दà¥à¤µà¤¾à¤°à¤¾ बà¥à¤¯à¤¾à¤œ की दर 1% मासिक बतायी गई है, किनà¥à¤¤à¥ आपे उस पà¥à¤°à¤µà¤¿à¤·à¥à¤Ÿà¤¿ में बà¥à¤¯à¤¾à¤œ % का उलà¥à¤²à¥‡à¤– नहीं किया है जबकि शà¥à¤°à¥€ विशाल गरà¥à¤— के साथ सà¥à¤ªà¤·à¥à¤Ÿà¤¤à¤ƒ 1% का उलà¥à¤²à¥‡à¤– किया गया है। अतः यह प....
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....¤¨ 29 उतà¥à¤¤à¤° कृपया बताà¤à¤‚ जहाठबà¥à¤¯à¤¾à¤œ % का उलà¥à¤²à¥‡à¤– नही है वहाठकिस पà¥à¤°à¤•à¤¾à¤° इन दसà¥à¤¤à¤¾à¤µà¥‡à¤œà¥‹ के माधà¥à¤¯à¤® से बà¥à¤¯à¤¾à¤œ की %' राषिवदà¥à¤¯à¤¾ है? इस संबंध में मौखिक रूप से याद रहता है कि किसका कितना % बà¥à¤¯à¤¾à¤œ की राषि1% से अधिक रहता है। कृपया बताà¤à¤‚ दसà¥à¤¤à¤¾à¤µà¥‡à¤œ LPS-1 के पृषà¥à¤ ....
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....¿à¤¸à¤¨à¥‡ दिये मà¥à¤à¥‡ कà¥à¤¯à¥‹à¤‚ दिये। हालाà¤à¤•à¤¿ मैं यह जानता हूठकि इन पृषà¥à¤ ों की पà¥à¤°à¤•à¥ƒà¤¤à¤¿ कà¥à¤¯à¤¾ हैं कà¥à¤¯à¥‹à¤‚कि पूरà¥à¤µ मे मà¥à¤à¥‡ à¤à¤¸à¥‡ पृषà¥à¤ आफिस से पà¥à¤°à¤¾à¤ªà¥à¤¤ होते रहते है। ये दसà¥à¤¤à¤¾à¤µà¥‡à¤œ बाजार से लिये गये उधार लेन-देन से संबंधित है। जिसमें उधार देने वाली à¤....
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....ती है. किनà¥à¤¤à¥ नगद उधार लेन-देन की पà¥à¤°à¤µà¤¿à¤·à¥à¤Ÿà¤¿à¤¯à¥‹à¤‚ इस कंपनी की नियमित लेखा पà¥à¤¸à¥à¤¤à¤•à¥‹ में नही की जाती है। कृपया पृषà¥à¤ कà¥à¤°à¤®à¤¾à¤‚क 6 से 16 तक के पà¥à¤°à¤¶à¥à¤¨à¥‹ की पà¥à¤°à¤•à¥ƒà¤¤à¤¿ समà¤à¤¾à¤¯à¥‡? पृषà¥à¤ कà¥à¤°à¤®à¤¾à¤‚क 6 से 16 तक मेरे माधà¥à¤¯à¤® से कंपनी को दिलवाये गये नगद बाजार से नà¤....
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.... कि पृषà¥à¤ कà¥à¤°à¤®à¤¾à¤‚क 6 से 16 तक मेरे दà¥à¤µà¤¾à¤°à¤¾ बाजार से मेसरà¥à¤¸ पाथ इणà¥à¤¡à¤¿à¤¯à¤¾ लिमि. को दिलाये गये नगद उधार से संबंधित पà¥à¤°à¤µà¤¿à¤·à¥à¤Ÿà¤¿à¤¯à¤¾ है। समय-समय पर इन सौदो को Renew किया जाता है । या कà¥à¤› अनà¥à¤¯ संशोधन किया जाता है जिससे बà¥à¤¯à¤¾à¤œ की दर में बढोतरी आई। अतः इनà¥à¤¹à¥....
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....¥‹ कॉलोनी, इंदौर और इनका वà¥à¤¯à¤µà¤¸à¤¾à¤¯ पà¥à¤²à¤¾à¤¸à¥à¤Ÿà¥€à¤• के दाने बनाने का है। मो. नं. 9827237505 आर. वी. पोदर:- इनका पता सिटी सेंटर, 317, इनका पूरा नाम रघà¥à¤¨à¤¾à¤¥ पà¥à¤°à¤¸à¤¾à¤¦ पोदर है। इनका वà¥à¤¯à¤µà¤¸à¤¾à¤¯ की जानकारी नही है। मो. नं. 9993295597 आà¤à¤¾ अगà¥à¤°à¤µà¤¾à¤² / आयà¥à¤· पोदर:- आयà¥à¤· पोदर शà¥à¤°à¥€à¤®à¤¤à¥€ आà¤à¤¾ अà¤....
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....à¥à¤°à¤¶à¥à¤¨ 32 उतà¥à¤¤à¤° By CV अनिल पोदार:- इनका मो. नं. 9893056001 दिनेष कà¥à¤®à¤¾à¤° गà¥à¤ªà¥à¤¤à¤¾:- इनको में direct नही जानता। शà¥à¤°à¥€ पà¥à¤¨à¥€à¤¤ अगà¥à¤°à¤µà¤¾à¤² ने ही उनà¥à¤¹à¥‡à¤‚ निरà¥à¤¦à¥‡à¤· दिया था। इन पृषà¥à¤ ों का अवलोकन करने से जà¥à¤žà¤¾à¤¤ होता है, इन पृषà¥à¤ ो पर कà¥à¤› (Code) शबà¥à¤¦ लिखा हà¥à¤† है, जैसे (Sa NA Sh). (Sh PA Sh) यह Sh NA Sh का मतà....
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....¥¤ कà¥à¤¯à¤¾à¤•à¤¿ इस entry में कà¥à¤› संशोधन हà¥à¤† होगा इसलिठउसने इस entry को verify करके sign किया । आफिस के करà¥à¤®à¤šà¤¾à¤°à¥€ नà¥à¤¯à¤¾à¤œ मोहमà¥à¤®à¤¦ कौन है और यह किस कंपनी में कारà¥à¤¯ करते है और कà¥à¤¯à¤¾ करते है? यह पाथ इणà¥à¤¡à¤¿à¤¯à¤¾ लिमिटेड में सहायक लेखा पाल के पद पर नियà¥à¤•à¥à¤¤ है। 154 Document 2 à¤à¤¾à¤°à¤¤à¥€à....
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....(4) of the Act. 5. That subsequent to search, my statement was also recorded on 29.08.2014, under section 131(1A) of the Act by the Authorized officer. 6. That after going through the copies of statements, as referred to in the preceding paras, I noted that in such statements, there is mention of many matters which were either not stated by me or which are not factually correct. As an example, I never stated in reply to Q no. 14 of the statement under section 132(4), recorded on 27.8.2014 that the PATH had taken some loan, in cash from 7. the market. That the fact remains that to the best of my knowledge and belief neither the PATH nor any of its directors had at point of time taken/ repaid any loans or advance, exceeding Rs. 20000/-, in cash. 8. That to the best of my knowledge and belief, at the relevant time, some circumstances were prevailing which had warranted some of the family members of PATH Group to demonstrate other family members of PATH that the group is in huge losses and under huge market debts. To the best of my knowledge and belief, under such circumstances, Shri Puneet Agrawal, without having actually borrowed / renewed....