2022 (11) TMI 972 - AT - Income Tax
Undisclosed cash receipt as recorded in the seized material - unexplained money u/s 69A - search and seizure action u/s 132 - Reliance on dumb document found from the premise of third party - Assessee allegation that total amount received against the sale of property - HELD THAT:- We find that as per the ledger account produced by the assessee all other entries of sale consideration received from M/s Tulsiani Construction and Developers Pvt. Ltd. are matching with the entries recorded in the seized material except one entry of Rs. 15 Lac cash.
Therefore, the seized document cannot either be accepted or rejected in part when the assessee has accepted the other entries. Once, the assessee has not disputed the other entries recorded in the seized material then a single entry of Rs. 15 Lac received in cash cannot be denied.
CIT(A) has rightly observed that the assessee cannot claim the seized material as dumb document when all other entries are recorded in the seized material are accepted by the assessee. In view of the above facts and circumstances of the case, we do not find any error or illegality in the impugned order of the CIT(A), the same is upheld. Appeal of the assessee is dismissed.