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Asstt. Commissioner of Income Tax, Central Circle-15, New Delhi Versus M/s Shyam Sunder Infrastructure (P) Ltd., Formerly known as M/s Mamram Developers (P) Ltd.

2017 (1) TMI 1401 - ITAT DELHI

Addition on the basis of statement of Sh. Ram Kishan Gupta - search and seizure u/s 132(1) - Held that:- In the present case, it appears that the impugned addition was made by the AO solely on the basis of statement of Sh. Ram Kishan Gupta. On a similar issue in the case of M/s Babushaka Promoters Pvt. Ltd., Delhi, who belongs to the same group to which the assessee belongs, held that since at the time of surrender and statement recorded u/s 132(4) of the Act Shri Ram Kishan Gupta was not asked .....

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ue - ITA No. 6446/Del/2013 - Dated:- 13-1-2017 - Sh. N. K. Saini, AM and Sh. Sudhanshu Srivastava, JM Assessee by : Sh. Sanjeev Bindal, CA Revenue by : Ms. Seema Raj, CIT DR ORDER Per N. K. Saini, AM: This is an appeal by the department against the order dated 17.09.2013 of ld. CIT(A)-XXXI, New Delhi. 2. The only effective ground raised in this appeal reads as under: 1. The Commissioner of Income Tax (Appeals) erred in law and on facts in deleting the addition of ₹ 2,80,00,000/-. 3. Facts .....

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nt Surrendered (Rs.) 1 Ram Kishan Gupta 2.00 Cr. 2 Sanjay Gupta 2.50 Cr. 3 Kamla Garg 4.25 Cr. 4 Renu Gupta 0.25 Cr. 5 Symphony Celebrators (P) Ltd. 1.00 Cr. 6 Athena Logistics Park (P) Lid. 1.00 Cr. 7 Mamram Developers (P)'Lld. 6.00 Cr. 8 Babushaka Promoters (P) Lid. 2.00 Cr. Total 19.00Cr. 4. Being aggrieved the assessee carried the matter to the ld. CIT(A) who deleted the addition by observing in para 3.15 of the impugned order as under: 3.15 After considering the arguments of the AR and .....

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age. Therefore, I hold that the addition of ₹ 2,80,00,000/- solely on the basis of statement of Sh. Ram Kishan Gupta made u/s 132(4) is not proper and hence the addition is liable to be deleted. 5. Now the department is in appeal. During the course of hearing the ld. Counsel for the assessee at the very outset stated that this issue is squarely covered in favour of the assessee by the decision dated 20.09.2016 of the ITAT Delhi Bench D , New Delhi in ITA No. 6444/Del/2013 for the assessmen .....

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ions of both the parties and carefully gone through the material available on the record. In the present case, it appears that the impugned addition was made by the AO solely on the basis of statement of Sh. Ram Kishan Gupta. On a similar issue in the case of ACIT, Central Circle-15, New Delhi Vs M/s Babushaka Promoters Pvt. Ltd., Delhi (supra), this bench of the ITAT vide order dated 20.09.2016 held in paras 9 & 10 as under: 9. On careful consideration of allegations made by the AO for maki .....

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riod relevant to other A.Y, such as A.Y 2010-11 in the case in hand. 10. We are in agreement with the conclusion recorded by the first appellate authority that the surrender was not made on specific items by Shri Ram Kishan Gupta and while allocation of the undisclosed income between the companies and other persons of the group, he has not mentioned and specified the heads of income as such. In the absence of any such disclosure and relevant material to establish the undisclosed income for the p .....

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