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2016 (6) TMI 972 - PUNJAB AND HARYANA HIGH COURT

2016 (6) TMI 972 - PUNJAB AND HARYANA HIGH COURT - TMI - Benami account - Additions made on the basis of peak amounts - Held that:- The concurrent findings recorded by the Assessing Officer, CIT(A) and the Tribunal that the savings account No.16860 in the name of Shri Sube Singh was infact benami account of the assessee and the additions made on the basis of peak amounts therein for the relevant assessment years were totally justified. The contention of the assessee in the facts and circumstance .....

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: Mr. J.K.Sibal, Sr. Advocate with Mr. Dhawal Bhandari, Advocate Ajay Kumar Mittal, J. 1. This appeal has been preferred by the appellant-assessee under Section 260A of the Income tax Act, 1961 (in short, the Act ) against the order dated 15.9.2015, Annexure A.7 passed by the Income Tax Appellate Tribunal, Bench Delhi (in short, the Tribunal ) in ITA No.5046/DEL/2011 for the assessment year 2002-03, claiming following substantial questions of law:- I. Whether in the facts and circumstances of th .....

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the case, the learned Tribunal order dated 15.9.2015 and its finding are in the eyes of law i.e. learned Tribunal was whether justified by rejecting the contentions of the appellant that compilation of the judgments submitted by the appellant will not be applicable in the present case which were relevant to the issues but same was arbitrarily ignored? IV. Whether in the facts and circumstances of the case, the learned Tribunal order dated 15.9.2015 and its finding are in the eyes of law to the .....

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Department, Haryana. A search and seizure operation was conducted on 4.3.2005 at the residential premises of the assessee. During the said operation, passbook of Shri Sube Singh, Account No.16860 was found. Statement of the assessee was recorded during the search. After examining the evidence on 2 of record and the statement of the assessee, the Assessing Officer added ₹ 10,15,200/- for the assessment year 2000-01 and ₹ 10,40,265/- for the assessment year 2002-03 in respect of deposi .....

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appeal of the assessee for non-prosecution on 22.8.2008 which was restored by the Tribunal, Delhi Bench, vide order dated 31.7.2009. Vide order dated 16.3.2010, the CIT(A) disposed of the said appeal by granting certain reliefs. Against the said order, the assessee approached the Tribunal. The Tribunal restored the appeal to CIT(A) for readjudication vide order dated 25.6.2010. The CIT(A) dismissed the appeal vide order dated 29.8.2011, Annexure A.5. In respect of the assessee's appeal for .....

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appellant for the assessment years 2000-01 and 2002-03 vide order dated 15.9.2015, Annexure A.7. Hence the instant appeal by the appellant-assessee. 3. Learned counsel for the appellant-assessee submitted that since there were no entries relating to the assessment year 2002-03, so no presumption or addition could be foisted on the assessee during this year. Further, the department proceeded against the pass book holder Sube Singh but no action was taken against him and the additions made in the .....

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ns as Shri Sube Singh had no capacity to make big deposits appearing in the said account. Even the introduction to the account had been made by the wife of the assessee- Smt. Prem Kumari. The withdrawals from the said account were either made by Shri Kapoor Singh or his sons Vikas and Rajiv from time to time. Further, the account had been closed on 5.3.2005 i.e., immediately after the search on 4.3.2005, thus, indicating the assessee's interest in the account. In such circumstances, the acco .....

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ri Sube Singh and sustained the addition of ₹ 10,40,265/-. 6. The Tribunal after examining the entire evidence on record has inter alia recorded that the assessee had not disputed the presence of the pass book of Sube Singh at his residence during search and seizure operation. He had also not controverted the findings recorded by the Assessing Officer with regard to the statement of the Bank Manager that most of the payments had been made/taken by the assessee and his sons. It was further .....

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sessing Officer and the CIT(A). The relevant findings recorded by the Tribunal read thus:- 10. We have gone through the records and proceedings as well as heard the submissions made by both the sides. It is pertinent to note that the bank pass book was found in the custody of assessee. The assessee at no point of time stated that he has not received the amounts from Shri Sube Singh. It can be seen from the entries in the bank account that Shri Sube Singh has issued various cheques to the assesse .....

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he search was also not sufficient to prove that the assessee has not received any amount from the said Shri Sube Singh. The proceedings against Shri Sube Singh were time barred and though the assessee's sons were assessed separately, there was no addition made in their income. The fact that the pass book was found in the custody of the assessee and from the above discussion it can be found that the bank account of Shri Sube Singh was operated by assessee and on regular basis as Shri Sube Sin .....

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ook of Shri Sube Singh which was found at his residence during search and seizure operation, neither has he challenged/controverted the AO's finding to the statement of the Bank Manager given in writing that most of the payments have been made/taken by Shri Kapoor Singh and his sons. The assessee has also not disputed the AO's noting that the account was closed on 5.3.2005 that is immediately after the search on 4.3.2005. This shows that the account was fully operated by the assessee. Th .....

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