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2018 (9) TMI 1025 - ITAT KOLKATAAdditional income disclosed in the course of search - Held that:- Revenue has based its case on Shri K.P. Agarwala’s search statement. CIT(appeals) has held that Shri Agarwala was never the authorized person to depose or to offer any income at assessee’s behest. We reiterate that this assessee is a company. It was very much imperative for the Revenue’s to place on record the corresponding details to reverse this clinching finding. There is no such evidence on record. Equally significant is the latter fact; in our considered opinion, that there is no incriminating material found or seized during the course of search which could be taken as evidence for adding additional income sum of ₹ 10 crores. CBDT’s circular dated 10.03.2003 makes it very clear that the an authorized officer during the course of search or survey has to collect evidence rather than obtaining search statements of undisclosed income. There is no even a single such evidence in foregoing facts which could be taken as the relevant material for making the impugned addition. CIT(Appeals) has discussed a catena of case law to this effect as well that such an addition is not sustainable in absence of any incriminating material found or seized during the course of search or survey carrying presumption u/s 292C. No reason to interfere with the CIT(Appeals) detailed conclusion in deleting the impugned addition of additional income amounting to ₹ 10 crores. - Decided against revenue.
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