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2018 (4) TMI 1725 - AT - Income TaxAssessment u/s 153C - search and seizure operation under section 132 - disallowance of payments made to Sino Credits Leasing Ltd. (SCLL) - statement of Shri S.K Gupta, Director SCLL recorded in which Shri Gupta and reportedly stated that SCLL was involved in giving bogus entries - HELD THAT:- Departmental appeal in the instant appeal are similar as have been considered in the case of M/s. Puri Constructions Ltd., [2017 (12) TMI 1708 - ITAT DELHI] wherein held the addition so made solely on the basis of statement of Sh. S.K. Gupta’s statement and without rebutting the documentary evidences so relied on by the assessee company is hereby deleted The findings of the CIT(A) are similarly worded. It is agreed position that facts are identical in the case of Assessee as well as M/s. Puri Constructions Ltd., (supra). Therefore, all the issues are covered in favour of the assessee. It may also be noted here that search was conducted in the case of M/s. Taneja-Puri Group of cases in which some alleged documents pertaining to assessee were found. On that basis, proceedings were initiated under section 153C against the assessee. Further, in the case of M/s. Puri Constructions Ltd., (supra), the entire additions have been deleted by the Tribunal and no evidence was found admissible against the assessee. Therefore, nothing survive against the assessee so as to proceed under section 153C - no admissible evidence have been brought on record against the assessee so as to make any addition. The additions were made merely on presumptions without bringing any concrete material against the assessee on record. All the evidences found during the course of search and found in post-search enquiry have been considered in the case of M/s. Puri Constructions Ltd., (supra) and entire additions have been deleted by the Tribunal. Therefore, on the basis of the same evidence and material, no additions could be made against the assessee. the Ld. CIT(A) on proper appreciation of evidence and material record, correctly deleted the additions. - Decided in favour of assessee.
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