TMI Blog2007 (3) TMI 785X X X X Extracts X X X X X X X X Extracts X X X X ..... c) of the Act. 2. The brief facts of the case are that the assessee-company is engaged in the business of construction. A search under section 132 of the Act in the assessee s premises was conducted on 12-3-1994. During the search, several documents were seized. One such document was a photostat copy of two pages of cash book. One page showed the cash receipts from Balbir Singh and other showed the receipt from Ramesh Sindhwani. The receipts from Balbir Singh were ₹ 3,50,000 in June, 1990, ₹ 14 lakhs also in June, 1990 and ₹ 7 lakhs on 3-7-1990. Thus, in all ₹ 24,50,000 were received in cash. In case of Ramesh Sindhwani, cash of ₹ 1 lakh each on 23-6-1990 and 22-10-1990 totalling to ₹ 2 lakhs was shown ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee filed an appeal against the assessment order before the Commissioner of Income-tax (Appeals) but was not successful. There- after, the assessee further appealed to the Tribunal vide ITA No. 810/Delhi/97 and the Tribunal confirmed the addition and dismissed the appeal of the assessee. 5. The assessee challenged the order of the Tribunal in this Court, vide ITA No. 50/1999. 6. Vide judgment dated 29-8-2000 passed by this Court, the appeal of the assessee was dismissed. It was held :- So far as the reasons recorded for re-opening of the assessment are concerned the quoted portion goes to show that reasons did exist for entertaining a belief that income chargeable to tax had escaped assessment. Additionally the conclusions of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd vide impugned order, the appeal filed by the assessee has been dismissed. 9. We have heard the learned counsel for the parties and gone through the record. 10. The Tribunal in its impugned order has quoted the observations made by the Tribunal in quantum appeal filed by the assessee, i.e., ITA No. 810/Delhi/97 and the relevant portion of the same reads as under :- In factual and legal conspectus of the case, it is evident that the seized document bearing page No. 4 as Annexure A-14 was found and seized from the appellant s premises. It is a photocopy of cash book which contain on left hand side the account of Shri Balbir Singh and on the right hand side the account is in the name of Shri Ramesh Sindhwani. The date-wise entries ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntained by him. The statement of Shri Balbir Singh is also not supported by any material. No debit entry has been found recorded for return of any cheques as claimed by Shri Balbir Singh in his statement recorded under section 131 of the Act. Shri Balbir Singh has also specifically not denied the payment of ₹ 14 lakhs made to the appellant. In his statement he replied that the alleged payment of ₹ 14 lakhs may be one of the such occasions . The occasion in his statement is stated to be making of payment through bearer cheque in case of financial crisis and difficulties for due payment. No supporting evidence or material has been brought on record to support this claim. In the absence of any supportive material, the only presump ..... X X X X Extracts X X X X X X X X Extracts X X X X
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