TMI Blog2012 (6) TMI 788X X X X Extracts X X X X X X X X Extracts X X X X ..... of Learned CIT(Appeals)-V, Baroda dated 27.11.2009. The only grievance of the Revenue is about deletion of penalty of ₹ 29,25,280/- levied u/s.271(1)(c) of the I.T.Act. 2. On the date of hearing, no one has appeared from the side of the respondent-assessee, however, a letter has been submitted through which it was intimated that vide an order by ITAT D Bench Ahmedabad in assessee s own ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1,73,30,000/- (Rs.73.80 lacs for relinquishment of his right on the land and an amount of ₹ 43.50 lacs for road, etc. through post-dated cheques). Out of the above amount, assessee has admitted that an amount of ₹ 86,37,000/- on account of land was received and that too was disclosed vide a revised return of income. However, it was denied that a amount of ₹ 29 lacs was received ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the seized documents or the undisclosed income belongs to the assessee. In the absence of any cogent or reliable evidence available on record regarding alleged receipt of cash by the assessee, the authorities below were unjustified in making and confirming the addition. In the absence of any evidence incriminating in nature against the assessee, we do not justify the addition. We accordingly, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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