2023 (7) TMI 1558

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.... No. 4958 to 4962/Del/2019 for AY's 2012-13 to 2016-17 are identical and similar, they were heard together and being adjudicated by this common order. As agreed by the learned representatives of both the sides we are taking up ITA No. 4958/Del/2019 for AY 2012-13 as lead case, wherein the revenue has raised following two effective grounds of appeal:- 1. On the facts and in the circumstances of the case the Ld. CIT (A) has erred in law and on facts in deleting the protective addition of Rs. 54,64,44,954/- made by the AO on account of unexplained cash credits, without considering the fact that the assessee has failed to discharged the onus to satisfy the conditions laid on u/s. 68 of the I.T Act 1961 with regard to the nature....

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....the deletion of addition made on protective basis by the Assessing Officer has been upheld by the Tribunal upholding the deletion of protective addition of credits therefore since facts and circumstances of present case are similar and identical therefore findings deleting the protective addition by the ld. CIT (A) may kindly be uphold. 5. Placing rejoinder to the above, the ld. CIT(DR) did not dispute the fact of deletion of protective addition by the CIT (A) and its confirmation by the Tribunal order dated 28.04.2023 in the case Shri Anand Kumar Jain (supra). The ld. CIT(DR) submitted that the ground no. 2 of revenue has been allowed under identical facts and circumstances and order of ld. CIT (A) directing the deletion of commission add....

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....1-12 160,105,451 0.47% 7,52,496/- AY 2012-13 114,700,597 0.47% 5,39,093/- AY 2013-14 262,717,480 0.47% 12,34,772/- AY 2014-15 245,616,875 0.47% 11,54,399/- AY 2015-16 260,228,180 0.47% 12,23,072/- AY 2016-17 717,246,284 0.47% 33,71,058/- 22. The AO is therefore directed to give effect to this order accordingly. Before parting we would like to clarify that the determination of expenses and the commission earned is based on the incriminating material specifically found and seized during the courses of search and hence the percentage of commission earned cannot be considered to be the same in other similar cases. 8. Therefore as per explanation and submissions of assessee, whole claim of expenses made in the P&L acco....