2025 (3) TMI 1581

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..... 2. Grievances raised by the assessee, are as follows: 1. Ld. CIT(A) has erred in law as well as on fact in confirming order passed by AO for reopening assessment u/s. 147 of the Act. 2. Ld. CIT(A) has erred in law as well as on fact in confirming addition of Rs.63,03,300/- only on the basis of allegation of third party without any evidences of any short and without providing cross examination. 3. Ld. CIT(A) has erred in law as well as on fact in confirming addition without considering facts of the case and order of Honourable ITAT in similar case where addition was deleted. 3. When this appeal was called out for hearing, Learned Counsel for the assessee invited our attention to the order dated 21.09.2022, ....

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....ed the material on record. We observe that in the instant set of facts, there is no corroborative evidence has been placed on record to show that it was the assessee who had deposited the said amount in the bank accounts operated by Late Shri Chhotglal V. Doshi, who was a Hawala operator. The entire additions were made only on the basis of statement recorded of son of Late Shri Chhotglal V. Doshi, who has stated that he had written the name in the diary so maintained by him, on the basis of instructions of his father. Apart from this, no evidence has been placed on record to substantiate that the money deposited in bank account maintained by Late Shri Chhotglal V. Doshi, belonged to the assessee. We observe that even the Ld. CIT(A) while pa....

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....f said AGM, who admitted that said deposits were undisclosed money of depositors and assessee was one of them. On basis of said statement, Assessing Officer made addition of unexplained money to assessee's income. It was noted that said AGM could not even identify persons who brought money to him or denominations in which money was brought. Moreover, survey operations did not bring on record any acknowledgment/receipt in respect of money received from assessee. Further, said AGM could not substantiate his statements by bringing any other credible or corroborative evidence on record. Accordingly, the Tribunal held that in aforesaid circumstances, impugned addition made in hands of assessee deserved to be set aside. 6.2 In the ca....