TMI Blog2017 (7) TMI 1172X X X X Extracts X X X X X X X X Extracts X X X X ..... AO to find out if in fact it constituted the construction expenses of any project of the aforementioned company of which the Assessee was a director. - ITA 57/2017 - - - Dated:- 14-7-2017 - Dr. S. Muralidhar And Ms. Prathibam. Singh JJ. For the Appellant : Mr. Ruchir Bhatia and Mr. Puneet Rai, Advs. For the Respondent : None ORDER 1. This is an appeal by the Revenue against t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d. 4. The explanation offered by the Assessee was that the said paper was not related to him the assessee. He was working as a professional director in Shamken Multifab Ltd. and used to handle various projects of the said company. The CIT (A) rejected the above explanation. Since the said document had been seized from the residence of Assessee, the CIT (A) drew a presumption under Section 292 C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... swork. Even no corroborative material has brought on record by the AO to substantiate the addition nor the CIT(A) has called for any remand report seeking corroborative evidence, if any. 6. In the considered view of the Court, the addition of ₹ 49 lakhs to the returned income of the Assessee was based on surmises and conjectures and that too on the basis of a single document without maki ..... X X X X Extracts X X X X X X X X Extracts X X X X
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