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2014 (11) TMI 691 - AT - Income TaxAssessment u/S 153A pursuant to search and seizure u/s 132 - Presumption u/s 292C - Deletion of peak amount of unexplained cash Held that:- The contentions of the revenue has no merit - The specific questions put to Sh. S.K. Gupta during the cross-examination cannot be termed to be vague where full facts have not come out - consistently Sh.S.K.Gupta states that no money has been received or paid by him relatable to the annexures - the arguments of the assessee that these are the extracts of the statement of Sh. S.K. Gupta recorded at the time of the search are correct and the revenue is mistaken in her arguments to contend that the questions No-14 & 15 are vague questions put forth during the cross examination - the assessee in both the years has filed a Paper Books and none of the parties have considered it necessary or expedient to refer to any document or fact. No evidence has been placed before us nor any cogent argument has been raised so as to show that on facts the view taken by the CIT(A) was not correct - In the absence of any specific infirmity in the order or reliance placed upon any evidence upsetting the view taken, revenue has failed to offer any meaningful argument in support of its claim - No reasons which can be legally accepted so as to remand the matter have also been placed relying upon ACIT vs Lata Mangeshkar [1973 (6) TMI 13 - BOMBAY High Court] - in the facts of that case reliance placed by the Revenue on the statement of two witnesses was considered to be not relevant for making an addition in the hands of the assessee - whereas one of the witnesses was considered to be a person who could not have any knowledge the other witness who though was a partner in the concerned firm had given a statement that he had made payments to the singer in "black" - the statement at best could arouse suspicion but suspicion could not take place of proof and in the absence of proof, the statement was discarded there was no merit in appeal Decided against revenue.
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