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2023 (2) TMI 709 - ITAT DELHIAddition u/s 69A - search and seizure operation conducted u/s 132 - cash was found in the residential premises of the assessee - HELD THAT:- As in course of assessment proceedings, the AO called upon the assessee to explain the source of cash found, however, the assessee did not comply. Even, Commissioner (Appeals) has sustained the addition by stating that the assessee has given a very sketchy and vague response. The assessee has not brought any contrary material/evidence before me to controvert the concurrent factual finding of the departmental authorities. Therefore, in absence of any cogent material brought on record by the assessee to disturb the findings of the departmental authorities, inclined to uphold the addition. This ground is dismissed. Addition u/s 69C - unexplained investment - as in course of search and seizure operation, jewellery was found in the residential premises of the assessee - HELD THAT:- Undisputedly, jewellery was found in course of search and seizure operation conducted in the residential premises of the assessee. As could be seen from the observations of the departmental authorities, the assessee could not furnish any evidence or valid explanation to explain the source of investment in jewellery. Before us, no contrary evidence has been brought on record by the assessee for enabling me to disturb the finding of the departmental authorities - we uphold the addition. Ground raised is dismissed.
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