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2023 (3) TMI 600 - ITAT MUMBAIUnaccounted/unexplained payments u/s 69C - unexplained expenditure mainly on the basis of documents seized and impounded from the premises of Mr. Madan Kolambekar - CIT-A deleted the addition - HELD THAT:- The fact in the present case is similar to the case of Krupa Land Ltd. [2018 (10) TMI 1987 - ITAT MUMBAI]as the present proceedings also arise from the same search. Instead of the statement of Mr. Dilip Dheria,one of the land aggregator, the Revenue is relying on the statement of Mr. Madan Kolambekar in the present proceedings. However, in the present case also, Mr. Madan Kolambekar has withdrawn his statement and other than loose papers, no further material has been brought on record by the Revenue to justify the addition in the hands of the assessee. The Revenue has not supported the allegation by any material showing cash passing hands. Further, the Revenue authorities have not enquired with the vendors or brought any statement on record of the vendors to substantiate the claim of the Revenue that extra cash has actually change hands. In view of the above facts, we are inclined to accept the findings of the Ld.CIT(A). No reason to interfere with the findings of the Ld.CIT(A) by deleting the additions proposed by the Assessing Officer u/s. 69C - Decided against revenue.
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