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TMI Blog2018 (11) TMI 951X X X X Extracts X X X X X X X X Extracts X X X X ..... nce facts are identical and issues are common, for the sake of convenience, these appeals were heard together and are disposed of by this common order. 2. The revenue has taken up more or less common grounds of appeal for all assessment years. For the sake of brevity, ground of appeal raised for AY 2007-08 in ITA No.6072/Mum/2016 are extracted below:- "(i) On the facts and circumstances of the case and in law, the Ld' Commissioner of Income Tax (Appeal) erred in deleting the addition of undisclosed income amounting to Rs. 47,15,OOO/- as estimated on hawala business of transporting cash from one place to another as per modus operand! as admitted by the assessee/ without appreciating the fact that the assessing officer has rightly extr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... preceding the assessment year in which search took place. Later, the cases have been selected for scrutiny and during the course of assessment proceedings, the AO has made addition on the basis of estimated commission income from hawala business in the hands of Shri Vishal Kalantri, on substantive basis. The AO also made addition towards similar commission income in the hands of the assessee on protective basis on the ground that certain incriminating materials related to hawala business were found from the premises of the assessee company and further, one of the employees, Shri Daudayal Sharma had stated that the assessee company was involved in the business of hawala transactions. 4. Aggrieved by the assessment order, assessee preferred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the AO has made substantive addition in the hands of Shri Vishal Kalantri, the Managing Director of the company and the said addition has been dealt with in his hands and after considering relevant submissions, partial relief has been granted. The Ld.DR further submitted that on further appeal before the ITAT, the ITAT, Mumbai Bench "F" in ITA No.6086 to 6092/Mum/2016 has considered the issue and after considering relevant facts, has upheld the findings of the Ld.CIT(A). Though the substantive addition has been considered in the hands of Shri Vishal Kalantri and such addition has been deleted partially by the ITAT, the protective addition made in the hands of the assessee needs to be examined in the light of facts gathered by the AO durin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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