TMI Blog2016 (7) TMI 1431X X X X Extracts X X X X X X X X Extracts X X X X ..... ed 20.04.2012 passed by the Commissioner of Income-tax (Appeals)-XXXIII, New Delhi qua the assessment years 2003-04 2004-05 on the grounds inter alia that :- ITA NO.3031/Del.2012 (AY 2003-04 1. That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action of Ld. AO in framing the impugned assessment order u/s 153A that too without assuming jurisdiction as per law and without recording requisite satisfaction as per law and without obtaining requisite approval as per law and without complying with the other mandatory conditions as envisaged under the Act. 2. That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action of Ld. AO in framing the impugned assessment in violation of principles of natural justice in as much as passing the impugned order by recording incorrect facts and findings and without providing opportunity of cross examination and without confronting the entire adverse material used against the assessee and without providing adequate opportunity of hearing. 3. That having regard to the facts and circumstances of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ime of hearing and all the above grounds are without prejudice to each other. ITA NO.3032/Del.2012 (AY 2004-05) 1. That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action of Ld. AO in framing the impugned assessment order U/S 153A that too without assuming jurisdiction as per law and without recording requisite satisfaction as per law and without obtaining requisite approval as per law and without complying with the other mandatory conditions as envisaged under the Act. 2. That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action of Ld. AO in framing the impugned assessment in violation of principles of natural justice in as much as passing the impugned order by recording incorrect facts and findings and without providing opportunity of cross examination and without confronting the entire adverse material used against the assessee and without providing adequate opportunity of hearing. 3. That having regard to the facts and circumstances of the case, Ld. CIT(A) has erred in law and on facts in confirming the action of Ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Act ) qua Assessment Years 2003-04 and 2004-05 were served and thereafter letter dated 21.08.2007 along with notice u/s 142 (1) was also served upon the assessee and in response thereto, assessee filed return declaring income of ₹ 13,86,601/- on 14.09.2007 including long term capital gain of ₹ 4,72,500/- qua AY 2003-04 and of ₹ 10,45,676/- qua AY 2004-05 respectively. Vide notices u/s 142 (1) and 143 (2) along with questionnaire (Annexure A-2), assessee was called upon to file details as to the income from salary, long term capital gain and other sources to which assessee filed reply. Finding explanation furnished by the assessee not satisfactory, Assessing Officer, proceeded to make an addition of ₹ 98,16,450/- and ₹ 95,27,126/- qua AYs 2003-04 and 2004-05 respectively on the basis of seized document and assessed the total taxable income at ₹ 1,12,03,051/- and ₹ 95,27,120/- qua AYs 2003-04 and 2004- 05 respectively. 3. Assessee carried the matter before the ld. CIT (A) by challenging the assessment orders who has dismissed both the appeals. Feeling aggrieved, the assessee has come up before the Tribunal by way of filing the present ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ments seized during search and seizure apparently goes to prove that the assessments in these cases have been made by the AO and affirmed by the CIT (A) on the basis of suspicion, which is not sustainable in the eyes of law for the following reasons :- i. that the first document lying at page 1 of the paper book on the basis of which addition of ₹ 5,00,000/- has been made is categoric enough to disclose that one K.L. Bhatia, S/o Lal Chand Bhatia has taken interest free loan of ₹ 5,00,000/- from the assessee which has been traced to the cheque no.268868 having been paid by M/s. BHA Associates Pvt. Ltd. to M/s. Landmark Estate Pvt. Ltd. being the sale proceeds for purchase of shop in New Friends Colony; ii. that the AO as well as CIT (A) have rejected the contention merely on the ground that the cheque number given by the assessee is 26888 whereas cheque no relied upon by assessee is 268868. To our mind, this is a typographical error in writing the cheque number which should have been verified by the AO from the debit credit entries maintained by the respective banks. So, this addition is not sustainable; iii. that addition of ₹ 40,85,000/- on the basis of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the deeming provisions without collecting any corroborative evidence; viii. that the AO has made addition of ₹ 1,00,000/- qua AY 2004-05 as unexplained expenditure u/s 69 of the Act on the basis of paper/document, available at page 1 of the paper book B. Bare perusal of the paper shows that the same does not bear the name of the assessee nor it is in the handwriting of assessee nor does it explain the purpose of making and receiving payment. Merely on the basis of this document, addition cannot be made as the same is not substantiated with any evidence; ix. that the AO has made another addition of ₹ 3,31,450/- on the basis of a seized document, available at page 2 of the paper book-B. Perusal of the document, available at page 2 of Paper Book - B, apparently shows that the document contains the figure of ₹ 50,000/- stated to have received as rent but again this document is bereft of name of the recipient, description of the rented property and as to who is the payee of the amount in question. Strangely enough, on the basis of seized document/paper showing the amount of ₹ 50,000/- the addition of ₹ 3,31,450/- has been made by the AO on the bas ..... X X X X Extracts X X X X X X X X Extracts X X X X
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