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2019 (10) TMI 234 - AT - Income TaxAssessment u/s 153A - proof of incriminating material found in the course of the search proceedings - THAT:- We find, that as observed by the CIT(A), the said preceding years were distinguishable on facts. As observed by the CIT(A), in the said preceding years as no assessment was pending on the date of search, therefore, the A.O had confined himself to the additions which could be made only on the basis of the incriminating material found in the course of the search proceedings. As the assessment for the year under consideration i.e A.Y 2011-12 was pending on the date of search. therefore, the A.O unlike the preceding years was also vested with the jurisdiction to make the disallowance of the aforesaid bank charges as per the normal assessment provisions envisaged under Sec.143(3). Accordingly, finding no infirmity in the observations of the lower authorities, we uphold the disallowance of the bank charges of ₹ 1,206/- made by the A.O. The Ground of appeal No .1 is dismissed. Unexplained investment u/s 69B - HELD THAT:- We are of a strong conviction that neither the assessee had been able to substantially prove that the aforesaid seized papers found from his residential premises did not belong to him, nor the A.O had been able to dislodge the claim of the assessee that the said seized papers which nowhere made any mention of his name or the name of any of his family members, did not belong to either of them. The matter requires to be revisited by the A.O for making necessary verifications. Accordingly, in terms of our aforesaid observations, we restore the matter pertaining to the addition towards alleged unexplained investment in the shares of various companies by the assessee, to the file of the A.O for readjudication. A.O in the course of the set aside proceedings shall afford a reasonable opportunity of being heard to the assessee, who shall remain at a liberty to substantiate his aforesaid claim by placing on record fresh documentary evidence. The order of the CIT(A) is set aside in terms of our aforesaid observations. The Ground of appeal No. 2 is allowed for statistical purposes.
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