TMI Blog2020 (3) TMI 692X X X X Extracts X X X X X X X X Extracts X X X X ..... 11-3-2020 - MR. MANMOHAN AND MR. SANJEEV NARULA JJ. Appellant Through: Mr. Raghvendra Singh, Sr. Standing counsel with Ms.Easha Kadian, Adv. Respondent Through: Dr. Shashwat Bajpai and Mr. Sarad Agarwal, Advs. SANJEEV NARULA, J (Oral): 1. The present appeal under Section 260 A of the Income Tax Act, 1961 (hereinafter referred as the Act ) is directed against the order dated 15th June, 2017 passed by Income Tax Appellate Tax (ITAT) in ITA No. 4730/Del/2009 relating to the assessment year (AY) 2002-03 whereby the appeal preferred by the Revenue against the order of the CIT (A), has been dismissed. 2. Briefly stated, the case of the Revenue is that Respondent filed his income return (ITR) for AY 2002-03 declaring an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the said group were centralized with the DCIT, Central Circle-19, New Delhi and assessment of Sh. Brij Mohan Gupta Group cases were completed under Section 153A of the Act. Sh. Brij Mohan Gupta, admitted his involvement in the unaccounted hundi / undisclosed cash transactions on behalf of various parties which included the respondent and also disclosed the brokerage income earned by him in such transactions. Accordingly, the contents of documents found and seized and the statements recorded on oath were forwarded to the Assessing Officer (AO) holding jurisdiction to undertake action under Section 153C/148 of the Act against the respondent. 5. On 19th March, 2008, on being satisfied with the said information furnished by DCIT, Central Ci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7. By way of the present appeal, Revenue has assailed the order of the Tribunal. Ms.Easha Kadian, appearing on behalf of Mr.Raghvendra Singh, Sr. Standing counsel for the Revenue argues that order passed by the Tribunal suffers from perversity, material errors and illegalities, inasmuch as the Tribunal has erroneously relied upon the orders passed by the coordinate Bench of the ITAT in the case of the DCIT v. Mahabir (supra) and in the case of Ashok Prasad Gupta (supra). It is argued that the ITAT has failed to appreciate that Sh. Brij Mohan Gupta and his group s engagement in hundi business stood proven and unchallenged by the respondent. It is further argued that the cash advances from the respondent by Sh.Brij Mohan Gupta in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing order in the Revenue's appeal stating as follows:- Learned counsel for the Revenue relied upon the order of this Court in ITA No. 282/2012 in the case of Ashok Prasad Gupta Vs. Commissioner of Income Tax, decided on 13.09.2012. It is submitted that the Court remitted the matter to the AO for fresh determination. The said order along with subsequent event i.e. order of the AO/CIT (A) shall be made available to the Court on the next date of hearing, since the IT AT has relied upon its previous order in that case. List on 26.02.2018. 3. Accordingly, the Revenue shall produce the subsequent order made by the AO after fresh determination, in view of the remand made in Ashok Prasad Gupta Vs. Commissioner of Income Tax, de ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of ITAT in the cases of Mahabir Prasad Gupta (Supra) and Ashok Prasad Gupta (supra) and further observed that Revenue could lay its hands on the diary of Sh. Brij Mohan Gupta where names of persons were recorded in quoted words and revenue could not establish the name of the assessee from such quoted words. Though the Revenue has placed on record statement of Sh. Brij Mohan Gupta, Ram Avtar Singal and Rajiv Gupta but still Revenue has failed to establish link between the information noted in abbreviated form and the assessee. The diary was neither found from the promises of the assessee nor in the hand writing of the assessee any third person may write the name of any person at his sweet will, in such circumstances assessee cannot be put t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons have been given as to why that material was insufficient to link the Assessee with MP Gupta whose name finds mention in the diary and the documents seized from the premises of Mr. Brij Mohan Gupta. 14. Consequently, the Court is not persuaded to permit the Revenue, for the first time, before this Court to set up an entirely different case of there having been a bag seized from the premises of the Assessee which according to the Revenue contained incriminating material against the Assessee. 13. In view of the aforesaid facts and the concurrent findings given by the CIT (A) and ITAT, it is evident that the Revenue has not been able to produce any cogent material which could fasten the liability on the respondent. The CIT(A) ha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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