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2014 (10) TMI 777 - AT - Income TaxSearch and seizure operation u/s 132 - Addition u/s 153C – Addition of cash payment on the basis of seized documents – Held that:- The seized document was not found from the premises of the assessee nor was it signed by the employee of the assessee nor the name of the assessee was appearing in this seized document on the basis of which addition was made by the AO in the assessment framed u/s 153C read with section 153A of the Act - there is no basis for sustaining the addition in respect of cash transactions in the hands of the assessee - CIT(A) was not justified in sustaining the addition made by the AO in proceedings u/s 153C read with section 153A of the Act on the basis of inference remotely drawn - there was no basis with the AO to make the addition in the hands of the assesee in a proceedings u/s 153C read with Section 153A – thus, the order of addition made by the CIT(A) is set aside and the matter is remitted back to the AO to delete the addition towards cash payment said to be made by the assessee company to various farmers based on the seized annexure from Shri Surender Modi – Decided in favour of assessee.
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