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2019 (10) TMI 1279 - AT - Income TaxAssessment u/s 153A - Addition on the basis of loose paper - Year of assessment - HELD THAT:- From perusal of these loose papers - HELD THAT:- No dispute to this fact that the dates mentioned against the amount shown do not pertain to Assessment Year 2006-07. It is an established rule that if addition is made on the basis of seized document and there is a reference of a date against the amount, then the revenue authorities can make the addition for the assessment year in which these date fall. In the instant case the alleged entries totaling to ₹ 13,00,000/- fall in the financial year 2004-05 and preceding period. A.O erred in making the addition for Assessment Year 2006-07. Alleged entries are payment by cheque given by the assessee to Ayushman Medical Diagnostic Private Limited. This fact is proved with the bank statement placed on record. We can therefore safely conclude that Ld. A.O grossly erred in making the addition for Assessment Year 2006-07 and the same deserves to be deleted. Unexplained foreign expenditure u/s 69C - HELD THAT:- There is no dispute to the fact that the assessee has very much accepted to offer unaccounted foreign expenditure. He has also accepted that the amount as incurred on his foreign tour which is not recorded in the books of accounts nor offered as income in the returns filed. Relief has only been claimed for the package rates wrongly applied by the Ld. A.O for the preceding years. We find merits in the contention of assessee that the Ld. A.O ought to have applied lower package rates for the preceding years and should not have uniformly applied the package rate as on 21.02.2014. Therefore the assessee deserves the relief requested by him before the first appellate authority. We accordingly delete the addition for Assessment Years 2007-08, 2008-09, 2009-10 and 2010-11.- Decided in favour of assessee. Undisclosed investment u/s 69B - HELD THAT:- Since the alleged seized document has been duly explained since the source of payment and the owner of the property is not disputed, then no addition was called for in the hands of the assessee. Revenue authorities were well within their powers to invoke provisions of 153C of the Act in order to assess Smt. Sudha Jain. However since before us the alleged document has been duly explained the same cannot be an incriminating material and thus no addition was called for u/s 69B of the Act and the same is directed to be deleted. We accordingly set aside the finding of Ld. CIT(A) and allow assessee’s Ground. Unexplained cash received - HELD THAT:- Name of the assessee is not indicated on this paper nor it is stated that the amount is paid to the assessee. It is not clear how the Ld. A.O came to the conclusion that the amount has been received by the assessee from Dr. Gopal Batni. Such addition seems to have been made on surmises and conjectures and in the given facts and circumstances of the case the addition in the hands of the assessee for unexplained cash was uncalled for since the alleged transaction related to the receipts of the Ayushman Hospital and cannot be considered as unexplained cash receipt of the assessee. Thus the addition deserves to be deleted. We accordingly set aside the finding of Ld. CIT(A) and allow the ground raised by the assessee.
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