2025 (3) TMI 2100

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..../Coch/2024, ITA No. 1132/Coch/2024, ITA No. 1133/Coch/2024, ITA No. 1134/Coch/2024, ITA No. 2/Coch/2025, ITA No. 3/Coch/2025, ITA No. 6/Coch/2025, ITA No. 8/Coch/2025 - -<br>Income Tax<br>SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI SOUNDARARAJAN K, JUDICIAL MEMBER For the Appellants : Sri.C.B.M.Warrier, CA For the Respondent : Sri.Suresh Sivanandan, CIT-DR ORDER PER INTURI RAMA RA....

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....re proceedings in the case of one Malabar Group of Companies conducted u/s.132 of the Act on 26.02.2019, it was stated that certain incriminating material relating to the appellant was stated to have been found and seized. Based on such incriminating material, the Assessing Officer ("the AO" hereinafter) issued notice u/s.153C of the Act on 10.05.2021. In response to the notice issued u/s.153C of ....

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....t merely because the appellant is agreed to the additional income, it cannot be presumed that the appellant had concealed particulars of income, by placing reliance on the judgment of the Hon'ble Supreme Court in the case of Sir Shadilal Sugar & General Mills Ltd. v. CIT. The AO rejecting the above explanation of the appellant and placing the decision of the Hon'ble Supreme Court in the case of MA....

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....n the hands of the appellant. The AO also not discussed as to how the seized material led to unearthing of the undisclosed income and how the seized material in the case of Malabar Group of companies has relation to the appellant herein. Merely because the appellant has disclosed additional income in response to notice u/s.153C of the Act, it cannot led to the conclusion that the appellant is guil....