TMI Blog2012 (2) TMI 229X X X X Extracts X X X X X X X X Extracts X X X X ..... y Shri Dale P.Kurian, Adv. Revenue by Ms. S. Vijayaprabha, Jr. DR O R D E R Per B.R.Baskaran, AM The appeal of the assessee is directed against the Order dated 19-7-2004 passed by the Ld. CIT(A)-V, Kochi and it relates to the block period ending 30-7-1998. 2. In this appeal, the assessee is assailing the decision of the Ld. CIT(A) in confirming the assessment of Rs. 4,21,344/- as undisclosed income of the assessee u/s. 158BD of the Act. 3. The facts relating to the issue are stated in brief. The Department carried out a search and seizure operation at the business premises of the concern named M/s. Puthur Drugs, Trichur on 30-7-1998. In the course of the said search proceedings, some seized documents indicated that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oborated with the total amount of investment, the Assessing Officer treated the said additional investment as undisclosed income of the assessee. The assessee could not succeed in the appeal filed before the ld. CIT(A). Hence, the assessee is in appeal before us. 4. The main contention of the assessee was the impugned seized material No.A-20, on which the reliance was placed by the tax authorities, are nothing but loose scribbling sheets, to which much reliance could not be placed upon. He submitted that the manager of the partnership firm, who has written these documents, was never examined to find out the veracity of the contents of the said documents. Accordingly, the ld. AR contended that the impugned seized record could not be consid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... made by such a responsible person about the total project cost, capital contribution made by the partners, minutes of meeting etc. are mere scribbling which would render the impugned document as a dumb document. In addition to this, the said documents also contained the signature of some of the partners who have attended the meeting. Hence, in our view, the authenticity of the impugned seized documents cannot be doubted with. The ld. CIT(A) has explained this aspect in a lucid manner and for the sake of convenience, we extract below his observations:- I have given careful considerations on the issue raised before me in the appeal. I have perused the facts on the record and also considered the arguments of rival parties. First of all, it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t of the Drive-in Restaurant. In the light of the above facts and circumstances, it is not difficult to hold that transactions mentioned in the minute books do represent the real state of affairs of the business and not hypothetical. Some of the partners, who have attended the meeting, have also signed the minute books . 7. Further, as submitted by Ld D.R, the impugned additional investments are corroborated by the total cost of the project, which was also noted in the said seized documents. Hence, the ld. CIT(A), by taking support form the decision of the Hon ble Supreme Court in the case of CIT vs.Durga Prasad More, 82 ITR 540 (SC), has held that the circumstances fully support the content of the impugned seized documents. On a careful ..... X X X X Extracts X X X X X X X X Extracts X X X X
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