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2021 (8) TMI 1026 - AT - Income TaxInitiation of proceedings u/s. 153C - Unaccounted on-money payment for purchase of land - Search and seizure u/s. 132 - addition based on loose paper found and seized - persons who have received the on-money payment have taken contradictory stands before different income-tax authorities and, therefore, the appellate proceedings in connected cases have direct bearing on the case of the assessee - CIT-A deleted the addition - HELD THAT:- After perusal of the material on record and order of the AO it is clearly indicated that the information received from search conducted in Himalyan Group was also utilized in making impugned addition in the case of the assessee. The ld. counsel has also submitted that in addition to the fact that addition was not made on the basis of document seized from the office promises of Saumya Construction Pvt. Ltd., the referred documents dated 19-04-2008 as a copy of agreement between the Sandesh Ltd., Pusti Enterprises and Saumya Construction did not pertain to assessment year in question. Reliance upon the decision of Sanhgad Technical Education Society [2017 (8) TMI 1298 - SUPREME COURT] wherein held that where loose papers found and seized did not establish co-relation document– wise with assessment year, notice issued under section 153C had rightly been quashed and set aside. We have considered the judicial pronouncement as supra wherein it is held that where loose paper found and seized did not establish co-relation document wise with assessment year in question notice issued u/s. 153C had rightly been quashed and set aside. Before us, the Revenue could not point out to the contrary. In the light of the above facts and findings and after considering the decision of the ld. CIT(A), the appeal of the Revenue is dismissed. Therefore, this appeal of the revenue is dismissed.
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