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2018 (6) TMI 1172 - AT - Income TaxAssessment u/s 153A - Addition u/s 68 - Held that:- No doubt, the presumption under section 132 (4A) is first upon assessee to discharge its onus of rebutting the documents not belonging to, but once sufficient materials have been provided to assessing officer regarding the same, it was the duty of assessing officer to investigate upon the material/evidences in order to corroborate it with seized materials. As apparent from records that no such investigations have been conducted by Ld.AO - we hold that the burden had shifted to revenue to show the basis of some reliable and tangible material which could indicate undisclosed receipts out of books of accounts in the hands of assessee. We do not wish to comment upon the documents seized are dumb or not. Ld. AO was in a much better position during assessment proceedings to investigate upon the facts and to corroborate the materials obtained during the course of investigation with the seized materials. However now with the passage of time being almost 6 years from the date of search, relating to 6 assessment years prior to the date of search, we cannot improve upon what AO could have done himself - delete the addition made by AO on account of alleged receipts of cash for assessment years 2005-06 and 2006-07. - Decided in favour of assessee. Unreported cash - data maintained on laptop relied - Held that:- As receipts are neither entered in regular cash book nor in IBM laptop data and that the data received from laptop has been partly ignored by Assessing Officer. Assessing Officer has wrongly taken cash balance as per IBM laptop as a positive figure as on the year ending 2005, whereas cash balance as per laptop was in negative which has been categorically observed by CIT (A). AO failed to establish the laptop data to be a duplicate set of books of accounts maintained by assessee. DR has also not been able to controvert these differences that have been categorically observed by CIT (A) by way of any material/evidences on record. No infirmity in the observations of CIT (A) in deleting the addition. - Decided in favour of assessee.
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