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2023 (4) TMI 1110 - ITAT HYDERABADAddition u/s 69A - search & seizure operation u/s 132 - assessee could not explain the source of cash found at the business premises of the assessee on the date of search - CIT (A) deleted partial amount holding the same to be available on the date of search as per books of account of the company and Director of the company and sustained the balance amount - HELD THAT:- A perusal of the assessment order shows that the Assessing Officer basically made the addition on the basis of the statement of the Accountant Shri Tikaram Sharma. However, it is neither coming from the assessment order nor from the order of the CIT (A) or from the Paper Book filed by the assessee as to whether the statements of the Directors of the assessee company were recorded or not and whether they have been asked any question or not on this issue either during the course of search or during the course of assessment proceedings especially when Mr. Ramesh Agarwal, on behalf of all family members and the companies had declared Rs.100 crores as undisclosed income. Since the facts in the instant case are identical to the facts of the case in the case of Ankit Biscuits (P) Ltd [2023 (3) TMI 1233 - ITAT HYDERABAD] we deem it proper to restore the issue to the file of AO with a direction to adjudicate the issue afresh in the light of the direction given in the case of Ankit Biscuits (P) Ltd and in the light of the declaration of additional income of Rs.100 crores by Mr. Ramesh Agarwal on behalf of all family members and the companies as additional income. Appeal filed by the assessee is allowed for statistical purposes.
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