TMI Blog1993 (12) TMI 105X X X X Extracts X X X X X X X X Extracts X X X X ..... authorised officer during the search operation and by the Asstt. Director of Investigation on subsequent dates. An addition of Rs. 6,38,398 was made by the Assessing officer for the asst. yr. 1986-87 on the basis of the seized diary and the statements of Shri Karodilal. The learned CIT(A) found that, in this case, summary appraisal under s. 132(5) had been made by the same Assessing Officer, who made the assessment in this case. The contention on behalf of the assessee that at the time of making a summary appraisal, the authorised officer may proceed in a summary manner, but while making assessment, he is duty bound to consider and apprise all the relevant material that is placed on record. Reliance has been placed on the decision of the S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the Department. It has further been observed that as per the diary, the availability of cash and outstanding as on Diwali 1984 of Rs. 4,50,821 had to be given due weightage-the assessment year involved in this case being 1986-87. The outstanding amount of Rs. 40,000, which was receivable from Shri Harbhajan Phoolchand Vishwakarma had been included in the figure of Rs. 5.98 lakhs worked out by the Assessing Officer. The learned CIT(A) has further pointed out that if the jottings in the diary would give the idea of moneylending of Shri Karodilal Agrawal, then cash should have been found at the place of Shri Karodilal. In fact, the cash of Rs. 38,766 only had been found at the place of Shri Karodilal, whereas a sum of Rs. 4,31,000 and odd ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dings of the CIT(A) that 30 tolas of gold ornaments silver coins and articles and cash of Rs. 9,000 out of Rs. 38,766 found during the course of search belonged to Smt. Gulabrani. The Assessing Officer had made an addition of Rs. 37,766 out of the cash of Rs. 38,766 found at the time of search. Besides, addition of Rs. 61,200 had been made on account of unexplained investment in gold ornaments and another addition of Rs. 10,000 on account of silver. The learned CIT(A) has deleted the addition of Rs. 9,000 out of cash available by holding that the same was belonging to one Smt. Gulabrani. Similarly, addition on account of gold ornaments and silver has been deleted by accepting the explanation of the assessee that these belonged to Smt. Gulab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that the CIT(A) was justified to delete the addition of Rs. 61,200 on account of gold ornaments, Rs. 10,000 on account of silver and Rs. 9,000 on account of cash. 8. In the result the appeal of the Revenue is dismissed. 9. For the asst. yrs. 1984-85 and 1985-86, common ground involved is relating to deletion of addition of Rs. 1 lakh on account of unexplained investment in moneylending business and interest thereon at Rs. 30,000 for each year. 10. Addition of Rs. 1 lakh and Rs. 30,000 had been made for each year on the basis of findings in the asst. yr. 1986-87, which was based on the jottings in the diary found at the time of search. The CIT(A) has deleted the addition of Rs. 6,38,398 made for asst. yr. 1986-87. The addition on acc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... file of the Assessing Officer with the following directions: "6. This ground of appeal in both the appeals is that there was no justification in adding the amount of Rs. 22,000 in each year on the basis of an alleged entry in the diary seized. There is nodiscussion in this matter in the assessment order. The learned counsel argued that the assessee was never asked to explain the entry. I have already considered the diary while deciding the appeal for asst. yr. 1986-87. Certain personal entries by Shri Karodilal Agrawal cannot be ruled out completely. The learned Assessing Officer has not explained the nature of entry or narration of the entry. As such, this particular issue, in respect of both the appeals, is restored to the file of lear ..... X X X X Extracts X X X X X X X X Extracts X X X X
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