AI Drafter 
TaxTMI 
TaxTMI 
2025 (4) TMI 282
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....se 2-3, Shivaji Enclave, Main Road, Opp. Mother Dairy, Near Raja Garden, New Delhi. During the search operation, statement of Shri Radhey Shyam Bajaj was recorded on 22.04.2017 and, in his statement, he had explained that the cash was duly accounted in the books of account of various RNB group and only present assessee knows of it. As there was no explanation from assessee, the ld. AO was not satisfied and made addition in the hands of the assessee. Before the ld.CIT(A), the assessee submitted details of accounted cash balance in audited financial statements/ITRs of various RNB entities along with audited financial statement, cash book, assessment order, ITRs, copies of which are available at pages 175 to 513 of the paper book. The ld.CIT(A) has deleted this addition to the extent of Rs. 19,26,234/-, but, confirmed to the extent of Rs. 39,946/- allegedly belonging to Vikram Kumar Bajaj (HUF). 3. Then we find that consequent to the search on 20.04.2017, five lockers maintained by the RNB group were searched on 04.05.2017, 05.05.2017, 23.05.2017 and 24.05.2017 and cash were found in the lockers which were seized. Shri Vinod Kumar Bajaj had made a statement explaining the cash seiz....
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....d under section 153A r.w.s. 143(3) are in violation of the statutory conditions of the Act and the procedure prescribed under the law and as such the same is bad in the eye of law and liable to be quashed. 6. On the facts and circumstances of the case, the learned CIT(A) has erred, both on facts and in law, in rejecting the contention of the assessee that the learned AO has erred in making the addition in order passed u/s 153A r.w.s 143(3) of the Act, without any incriminating material having been found during the course of search. 7. (i) On the facts and circumstances of the case, the learned CIT(A) has erred, both on facts and in law, in rejecting the contention of the assessee that the proceedings initiated under section 153A against the appellant and the consequent reassessment framed under section 153A r.w.s 143(3) are in violation of mandatory provisions of Section 153D of the Act and as such the same is bad in eyes of law. (ii)That the CIT(A) has erred in ignoring the contention of the assessee that the purported approval u/s 153D of the Act is illegal, bad in law and also without any application of mind. 8. On the facts and circumstances ....
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.... 3. Whether on the facts and circumstances of the case, the LD. CIT(A) is correct in deleting the addition of Rs. 19,26,234/- by giving the benefit of cash in hand shown in the audited books/cash book of the business concerns named RNB Overseas Pvt. Ltd., RNB Merchantile Pvt. Ltd., RNB Infrastructure Pvt. Ltd. and RNB International Pvt. Ltd. which amounted to Rs. 19,26,234/- without appreciating the fact that there being substantial evidence in this context. 4. Whether on the facts and circumstances of the case, the LD. CIT(A) has erred in deleting the addition without appreciating the fact that one of the Bajaj entity M/s Ram Bajaj Foundation was involved in dubious transaction of Money and providing accommodation entries by means of receipt of bogus donation in exchange of returning cash to the door. 5. The order of the CIT(A) is erroneous and is not tenable on facts and in law. 6. The grounds of appeal are without prejudice to each other. 7. The appellant craves to add, alter or amend any/all of the grounds of appeal before or during the course of the hearing of the appeal." 5. Ld. AR has not contested the legal grounds raised in the....
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....y the coordinate Bench decision in the case of Vinod Kumar Bajaj vs. DCIT, ITA No.2189/Del/2023 dated 20.11.2024. 7. We find that the ld. AO had made similar addition in respect of cash seized from locker No.72 of Federal Bank and locker No.299 of SBI bank by drawing similar presumption as done in the case of the assessee. That since Shri Vinod Kumar Bajaj has last operated these lockers, the cash belonged to the person that last operated the locker. 8. Now, we find that in case of Vinod Kumar Bajaj (supra), wherein similar addition was made, the coordinate Bench, has held in order dated 20.11.2024 (supra) as follows:- "11. Considered the rival submissions and material placed on record. We observed that lockers kept in the name of Vikram Kumar Bajaj and assessee were searched and cash found in locker no.72 of Federal Bank and Rs. 41,00,000/- and locker no.299 of SBI of Rs. 22,00,000/-. After considering the submissions of the assessee, these cash were belonged to RNB Temple Trust and Ram Bajaj Foundation. After analysing various evidences submitted before ld. CIT (A), ld. CIT (A) gave a clear finding that the cash found during the search relating to RNB Temple Trust ....
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....nate bench in the case of Vinod Kumar Bajaj (supra), thus without entering into the merits of assertions again on first principles, we are inclined to follow the co-ordinate bench decision, and find no substance in the grounds no 1,2 and 4 of revenue qua the present assessee too. 11. As with regard to the appeal of assessee and ground no. 3 in appeal of the revenue, we find that after taking into consideration the additional evidence and remand report, in para no. 17.5, ld.CIT(A) has made following vital observations:- "17.5 On careful consideration of the statements of Sh. Vikram Bujaj and the facts of the case, it is observed that the premises from which the cash was seized is the corporate office of the concerns of the Bajaj group from where the business activities of the group are controlled and managed. From the ITRs and the audited financials of the Bajaj group companies as referred by the appellant in its written submissions it is noticed that these concerns are registered at Premise no. 1, Shivaji Enclave, Main Road opp. Mother Dairy, Near Raja Garden, New Delhi which is adjacent to Premise No.2 and 3, Shivaji Enclave. All the three nos exist and operate as join....