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2022 (9) TMI 183 - AT - Income TaxAddition u/s 69A - Cash found in search - HELD THAT:- We find that the ld CIT(A) has granted relief to the assessee on appreciation of the statement recorded during the search action, wherein the assessee has firmly stated that the amount of Rs. 5.00 lakhs belong to Shital Textile, wherein he is one of the partners. No contrary facts or evidence was brought to our notice to take other view; therefore, we affirm the order of ld CIT(A) on this issues. In the result, ground No.1 of the appeal is dismissed. Addition based on loose paper found in search - HELD THAT:- The hon’ble Delhi High Court in CIT Vs Vivek Aggarwal [2015 (2) TMI 590 - DELHI HIGH COURT] held that where Assessing Officer made addition to assessees income on basis of a document seized in course of search, in view of fact that document seized was both undated and unsigned and even taken at face value did not lead to further enquiry on behalf of Assessing Officer, impugned order of Tribunal deleting addition was to be confirmed. Further in CIT Vs Maulikumar Shah [2007 (7) TMI 267 - GUJARAT HIGH COURT] also held that mere entries in seized material are not sufficient to prove that assessee has indulged in such a transaction in which 'on money' has been received. Thus, in view of the aforesaid factual and legal position, we are also of the considered opinion that absence of any cogent evidence on record, we do not find any infirmity or illegality in the order passed by ld CIT(A). In the result, ground No. 2 of the appeal is dismissed. Alleged violation of Rule 46A - HELD THAT:- We find that during first appellate stage no new or fresh evidence was filed by the assessee, except narration of facts. We further find that while restricting the addition under section 69, the ld CIT(A) specifically noted that new explanation offered before him, qua cash of M.D. Infra Developers of Rs. 2.00 lacs, was contrary to the initial statement and accordingly, new explanation was rejected. No new evidence relied by the assessee is specifically brought to our notice, thus, we do not find any merit in this ground of appeal. In the result, this ground of result is also dismissed.
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