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2015 (3) TMI 50 - AT - Income TaxAddition to income u/s 69A - documents recovered from the premises of M/s Gian Chand Ramji Das during the course of search conducted - FAA uphold the addition of ₹ 318602/- out of the total addition of ₹ 368602/- and his given the relief of ₹ 50,000/-. - Held that:- In the search 56 papers were seized from the premises of M/s Gian Chand Ramji Das and 33 papers are linked to the general copy house sent to the AO of the assessee. On explanation by the assessee on the seized document the assessee stated that they were not aware of the companies M/s AAA Exports & M/s ABC Exports etc. The assessee has also filed a letter from Mr. Chandra Prakash partner of M/s Gian Chand Ramji Das in which he has stated that he has made these entries for his learning and also told that these entries are for his convenience sake and has no concerned with assessee’s books of accounts. The assessee has also stated before the Revenue Authority that Sh. Chandra Prakash is handling their export of their paper and board business and is also their attorney with Union Bank of India, Sadar Branch. The assessee has categorically denied that they have not received even a single piece from him. As assessee has explained about all 33 papers allegedly related to the assessee and established that assessee has not received any payment mentioned in the seized papers but the ld. First Appellate Authority has not appreciated the explanation given by the assessee which is supported by evidences also and has made the addition of ₹ 3,18,602/- without any basis and contrary to the explanation given by the assessee as well as contrary to the evidence produced by the assessee before the Revenue Authorities. - Decided in favour of assessee.
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