Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (11) TMI 365 - ITAT BANGALOREPresumption u/s. 292C of the Act to apply to only the person, who is searched – Presumption as to assets, books of account, etc. - Search u/s 132 was conducted on third party – Addition made on the basis of search – Held that:- Document in question was seized from the possession of one Mr. Sohanraj Mehta. The seized document makes a reference to the name of the assessee and a figure of Rs.22.75 lakhs appears against his name - There is no basis set out in the order of the AO for coming to the conclusion that the seized document evidences receipt of money by the assessee from Sohanraj Mehta. The presumption u/s. 292C of the Act is only with reference to the person searched and it cannot be extended to the assessee. There is no corroborative evidence or statement of Sohanraj Mehta relied upon by the AO, to the effect that a sum of Rs.22.75 lakhs was paid to the assessee. The assessee has categorically denied having received any payment from Sohanraj Mehta - Even in the proceedings before the AO, when the assessee was examined, he had taken the same stand. The details called for in the scrutiny assessment did not call for any specific details on the seized document or receipt of cash based on the seized document – Decided against the Revenue.
|