Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (10) TMI 396 - AT - Income TaxAssessment passed u/s.153A - Presumption in case of seized documents - Addition based on the said seized document - joint search in the name of assessee and his son - HELD THAT:- There was a joint search warrant in the name of “Shri Rajinder Sharma and Shri Akash Sharma’ on the same premises in which the said document was found, then how the presumption has been drawn that it belongs to the assessee when the other person searched has himself owned up the document and has given his explanation. There is no reason as to why this document which has been denied by the assessee and accepted by the other searched person, adverse inference has been drawn in the case of the assessee and presumption is made in terms of Section 132(4A) and Section 292C. As incorporated above the assessee’s son Shri Akash Sharma was also subjected to assessment u/s.153A, that means no adverse inference has been drawn despite Mr. Akash Sharma has owned up that these document belongs to him. Simply because the house is registered in the name of his father, i.e., assessee, it does not lead to inference that document which pertain to son residing in the same premises belongs to the assessee. Without going into the merits of the explanation given and also whether it is in nature of the dump document or not because the very premise of drawing an adverse presumption against the assessee is not tenable and we hold that addition is unsustainable in the hands of the assessee. Assessee’s son was also covered under the search in the same premises and the document found from the said premises has been categorically owned by his son, Shri Akash Sharma who has given his explanation, then instead of drawing any inference in his assessment u/s.153A, no presumption has been made in the case of the assessee. Thus, once this document does not belong to the assessee nor there is any mention of any name of the seized document, presumption u/s. 132(4A) and Section 292C cannot be made against the assessee. Accordingly, no addition based on the said seized document can be made and same is directed to be deleted. - Decided in favour of assessee.
|