2026 (5) TMI 722

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....9-20. 2. Brief facts of the case are that based on the documents found during the course of search carried out in the case of Shri Krishna Sharma and Smt. Sheetal Sharma on 02.02.2022, case of the assessee was re-opened u/s 147 of the Act, since as per seized documents titled as page 6 & 7 of Annexure A-2, it is found that assessee has purchased a property for a total consideration of INR 26.00 lacs and payments of INR 20.00 lacs was made through cheque and INR 6.00 lacs was paid in cash. Accordingly, AO passed the reassessment order dated 06.03.2024 u/s 147 by making addition of INR 6.00 lacs being cash payment as undisclosed investment u/s 69B r.w.s. 115BB of the Act and the total income was assessed at INR 9,14,880/-. 3. Against th....

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....g on Ground No. 3 and Ground No. 5 submitted that the authorities below committed error in making/sustaining the addition amounting to Rs. 19,00,000/- u/s 69B of the Act relying on the loose sheet of paper which is nothing but 'dumb document'. Further submitted that there is no mentioning of 'cash' payment and the alleged incriminating material being a 'dumb document' which was not corroborated with any of the statement or evidence. Further submitted that though the loose paper was not found from the possession of the Assessee, the Revenue has not provided opportunity for cross-examination. Therefore, submitted that the addition made by the A.O. which has been upheld by the Ld. CIT(A) is liable to be deleted." 8. It is further observed t....

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....rder of the Commissioner was based upon the statements given by the aforesaid two witnesses. Even when the assessee disputed the correctness of the statements and wanted to cross-examine, the Adjudicating Authority did not grant this opportunity to the assessee. It would be pertinent to note that in the impugned order passed by the Adjudicating Authority he has specifically mentioned that such an opportunity was sought by the assessee. However, no such opportunity was granted and the aforesaid plea is not even dealt with by the Adjudicating Authority. As far as the Tribunal is concerned, we find that rejection of this plea is totally untenable. The Tribunal has simply stated that cross examination of the said dealers could not have brought ....