2025 (2) TMI 1502

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....as under: "1. That the appellant denies his liability to be assessed at total income of Rs. 42,86,789/- against returned income of Rs. 11,23,960/- and accordingly denies his liability to pay tax and interest demanded thereon. 2. That having regard to the facts and circumstances of the case, the issue of notice u/s. 143(2) and the assessment proceedings in the case are bad in law and against the facts of the case and, therefore, the assessment framed is bad in law against the facts of the case and void-abinitio. 3. That having regard to the facts and circumstances of the case, Ld. A.O. has erred in law and on facts in framing the impugned assessment u/s. 153A rws 143(3) without serving mandatory notice u/s. 143(2) within the statutory allowable period. 4. That in any view of the matter and in any case, the assessment framed is bad in law and against the facts of the case." 5. That having regard to the facts and circumstances of the case, Ld. A.O. has erred in law and on facts in making addition of Rs. 1,00,000/- on account of cash deposited in the bank account as alleged income from undisclosed sources. 6. That in any view of the....

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....e of the authorization of the Director of Income-tax (Investigation), Delhi, under section 132(1)(A) in the case of the assessee, the residential as well as business/office premises of M/s SRS Group, were subjected to search and seizure operations on 09.05.2012. Assessment jurisdiction over the assessee were transferred to Central circle II, Faridabad, by passing an order u/s. 127 of the Act by the Commissioner of Income Tax Faridabad, vide F. No. CIT/FBD/127/09/2012-13/6050 dated 08.02.2012. During the previous year relevant to the A.Y. 2013-14, the assessee was drawing income from salary. In accordance with the provisions of section 153A(1)(a) of the Act a notice dated 06.08.2013, u/s. 153A(1)(a) was issued and served upon the assessee, requiring to file his return of income in respect of assessment year 2013- 14, an assessment year falling within the six assessment years immediately preceding the assessment year relevant to the previous year in which search was conducted. In his case, the search was conducted on 09.05.2012. In response to the said notice, the assessee filed his return of income, returning a total income of Rs. 11,23,960/- on 09.10.2013. Notices under section 143....

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....d the ld. AO held that as in the paper area of properties, rate and amount is written and after deducting payment of Rs. 27 Lac mentioned balance is written in the documents itself. Against the payment of Rs. 27 Lacs Mangla is written. Thus it is evident that payments of Rs. 27 Lacs was made by the assessee from the sources not disclosed to the department. Accordingly addition of Rs. 27 Lac was made on this account. Further, the ld. AO held that as the assessee had not disclosed this income suo-moto and without the search operation, this income would not have been unearthed had there been no search on the premises of the assessee therefore being satisfied that the assessee has failed to disclose income and specify the manner in which such income has been derived and initiated the penalty u/s. 271AAA of the Act. 3.4 Next, as per page no.50 to 52 of documents no. A-1 Seized from the residence of the assessee. Ld. AO noticed that the assessee as sold as shop situated New Sabji Mandi, Ballabgarh for Rs. 38 Lacs on 20 April 2012. The assessee was asked to explain the transaction and whether any tax has been paid on capital gain. The assessee explained as under:- "This was a ....

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....d therefore, a separate notice u/s. 274 read with section 271AAA was issued in respect of Disclosure/addition. 4. During the course of hearing, ground nos. 1,2, 5 and 6 were not pressed, hence, dismissed as withdrawn. Ld. AR has supported made out a case on basis of facts and assertions as made before ld. Tax authorities below. Ld. DR has relied the order of ld. CIT(A) and submitted that on well reasoned findings the additions were sustained. Accordingly we proceed to decide the grounds as follows. 5. Ground nos. 3 and 4; The grounds relate to addition of Rs. 1,00,000 made by the Assessing Officer on account of cash deposited in the bank on 11.07.2012 as has been confirmed by the Ld. CIT(Appeals). The case of assessee is that this amount was deposited out of the funds available with the assessee as on 01.04.2012. In this context ld. AR has made out a case before us on the basis of Tribunal decision in A.Y. 2012-13 in ITA NO. 2814/ DEL/2018 order dated 21.02.2022 where it was held that assessee was having aggregate amount of Rs. 14,62,200/- during F.Y. 2011-12 out of which Rs. 11,72,000/- was deposited and thus, according to the finding of Tribunal a sum of Rs. 2,90,200/- was ....