2026 (2) TMI 702

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....essment u/s 153A of the Income-tax Act, 1961 [the Act, for short] since no incriminating material was found as a result of search and the additions made are without jurisdiction. 3. Briefly stated, the facts of the case are that a search and seizure operation was carried out on Karan Luthra Group of cases on 14.03.2014 wherein certain incriminating documents/information related to the assessee were found and seized. Consequential search action was conducted at the premises of Shri Dheeraj Chaudary on 29.04.2014. The assessee was issued notices u/s 153A and 142(1) of the Act, pursuant to which the assessee filed its return of income on 15.06.2016 declaring total income of Rs. 10,04,820/-. 4. The Assessing Officer observed that the asse....

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....Sharad Chaudhary, (2014) (8) TMI 309- ITAT Delhi 3.Shri Neeraj Goel vs. ACIT Central Circle-28, Delhi (2019) (3) TMI 276- ITAT Delhi 4.Sanjay Taneja vs. ACIT, (2025) 176 Taxman.com 392, (ITAT Delhi) 5.DCIT Central-2 vs. Sanjay Aggarwal, (2025) 174 Taxman.com 108 - (ITAT Raipur) 8. Per contra, the ld. DR supported the findings of the authorities below. 9. We have given thoughtful consideration to the orders of the authorities below. We find that the entire quarrel revolves around seized documents as Exhibits at pages 6,59, 61,62,64,65,73,78,79,82 to 83, 84 and 86 being Annexure A-1 of the paper book on the basis of which additions of Rs 2,10,63,277/- have been made. We find that these documents contain jottin....

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....tains hand written details of certain transaction of Rs 2,30,000/- with Rishi Bhati. page This contains hand written detail of certain transaction of Rs. 2,30,000/- made with Rishi Bhati. From the bare perusal of the same, we find that it contains nine dates. The first four dates pertain to financial year 2012-13 which are relevant for the Α.Υ. 2013-14. The other five dates pertain to financial year 2013-14 relevant for the A.Y. 2014-15. Hence no addition based on the said loose sheet can be made for the A.Υ. 2015-16. 9.5 Annexure A-1 at page 73 contains hand written details of certain transaction of Rs. 17,75,184/- made with Mr.Prakash. From the bare perusal of the same, we find that the same does not contain any d....

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....tion 34 of the Evidence Act, and that only where the entries are in 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." 11. It is apparent from the aforesaid law mandated by the hon'ble Supreme Court that the loose sheet of papers found in the ....