TMI Blog2021 (4) TMI 7X X X X Extracts X X X X X X X X Extracts X X X X ..... s of the CIT (A) that the addition made by the AO has led to double addition and the same nature of transaction have been recorded in the master cash book and ledger account of summary sheet which is nothing but summary of all the transactions recorded in other seized documents. No material has been brought on record to controvert the findings of the Ld. CIT (A) and, therefore, the order of the Ld. CIT(A) deleting the addition has confirmed and the grounds raised by the revenue are dismissed. Since we have already held that exactly same issue is involved in other two years and the same set of facts and findings are permeating therein also apparently our findings will apply in the other two year also. - ITA Nos.:-3960, 3961, 3963/Del/2017 - - - Dated:- 22-3-2021 - Shri Amit Shukla, Judicial Member And Shri B.R.R. Kumar, Accountant Member For the Assessee : Shri Salil Aggarwal, Advocate, Shri Shailesh Gupta, Advocate For the Department : Ms. Sunita Singh, CIT(DR) ORDER PER AMIT SHUKLA, J.M. The aforesaid appeals have been filed by the revenue against separate impugned order of even date, 31st March 2017, passed by Ld. CIT (Appeals) 26, New Delhi for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee group i.e., J P Minda group of companies vide its disclosure letter dated 28.12.2013 has taken into account these receipts of ₹ 1,19,24,500/- as part of its disclosure as additional income in the respective hands. Assessee had further submitted that he has surrendered ₹ 1,19,24,500/- in the hands of his elder son Sh. Ashwani Kumar Minda, as the cash book giving the details in respect of income has been found from the residence of Shri Ashwani Minda during the course of search and as such the said income have been surrendered in the hands of Shri Ashwani Minda Assessee has also attached computation of income of his son Sh. Ashwani Kumar Minda showing total surrender of ₹ 1,19,24,500/- in the current financial year. Thus on this, no adverse inference was drawn and the similar income was accepted in the hands of the elder son of the assessee, Shri Ashwini Kumar Minda. 3. Thereafter, Assessing Officer noted that the seized material Annexure A-5 , Party R-2 contains documents which shows receipt of ₹ 3,66,10,131/- and the details were incorporated by him in the following manner :- JPM Ji on a/c Loan (JISL) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd payments. 2. A-2 of R-2 which is claimed to be ledger account of different transactions which have been summarised in A-5/R-2 3. AA-6/0-2 which is claimed to be cash book of different transactions not recorded in regular books of accounts as summarised in A-5/R-2 5. The assessee s contention before the AO as well as CIT (A) has been that all receipts recorded in the cash book/ledger as per annexure A-2 of R-2 and AA-6 of 0-2 had been consequently summarised in the form of the sheet at A-5 of R-2 and all the entries recorded in the impugned cash book/ledger accounts were not in the nature of income. It was claimed that the specific entries of income nature had been marked as scrap sale/miscellaneous receipts and these had been disclosed in the return filed u/s 153A amounting to ₹ 1,19,24,500/- and the same had been assessed accordingly by the AO. It was claimed that the AO had assessed the quantum of receipts as per the summary sheet without taking into account the detailed accounts maintained by the assessee in the form of cash book/ledger which had also been seized during the course of search operation. It was claimed that the all the transactions duly supported ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 000 21.01.2013 9,41,521 9. The perusal of the above detailed comparison shows that the amounts recorded in the cash book and ledger are duly represented in the summary sheet and therefore no independent and additional income could be taxable in respect of the entries in cash book and ledger as their impact has been recorded in the summary sheet and disclosed for tax purposes in return filed u/s 15 3A accordingly. The chart incorporating the record of entries in the cash book and ledger is as under: JPM Ji on a/c Loan (JISL) Modern Scrap Total 2007-10 1,51,30,160 (at Page no 10 of A- 2/R-2 marked as point no viii) 50,00,000 (at page no 6 A- 2/R-2 marked as point no vii) 2,01,30,160 2010-11 85,00,000 (at Page no 18 of A-2/R-2 marked as point no vi) 93,00,000 (at page no 19 of A-2/R-2 marked as point no iv) 1,78,00,000 2011-12 89,79,720(Amount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... total surrender of ₹ 4,34,38,760/- was made by assessee and his son with respect to inflows appearing in the master cash book, which surrender was also accepted by the department for the aforesaid assessment years. That even for impugned assessment year i.e. AY 2013-14, a surrender of ₹ 1, 19, 24, 500/- was being made by Sh. Ashwani Kumar Minda, which has been duly noted and accepted by learned AO in the order of assessment (ii) Annexure A - 2, Party R - 2, Page Nos. 1 to 23 (at pages 5 to 27 of the paper book) This document contained print out of some ledger accounts with respect to transactions as reflected in master cash book. This document basically reflected as to how the cash was withdrawn and deposited out of the inflows of money by the assessee. Ergo, this document was nothing but a party wise record of transactions mentioned in the master cash book. For instance, if we compare page nos. 61 to 62 of the paper book with page nos. 6 and 7 of the paper book, it would become amply clear that entries in the master cash book were only separately recorded in separate ledger accounts, and the ledger account merely recorded the withdrawals and deposits of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ccepted by department. 28.02.2008 ₹ 10, 00,000/- ₹ 8,4 0,000/- 28.02.2008 ₹ 10, 00,000/- ₹ 8,4 0,000/- 14.03.2008 ₹ 73, 13,660/- ₹ 3,8 6,600/- 14.03.2008 ₹ 73, 13,660/- ₹ 3,8 6,600/- Entries pertaining to impugned assessment year are at Page no. 18 of the said seized document has been placed at page no. 61 of the paper book, which contains following entries: Entries pertaining to the impugned assessment year are at Page no. 22 of the said seized document has been placed at page no. 6 of the paper book, which contains following entries 07.04 .2012 ₹ 31,95,000/- ₹ 18,00,000/- 07.04.2012 ₹ 31,95,000/- ₹ 18,00,000/- 12.04.2012 ₹ 46,00,000/- ₹ 2,00,000/- 12.04.2012 ₹ 46,00,000/- ₹ 2,00,000/- 30.04 .201 2 (P g 61 of PB) ₹ 5,00,000/- ₹ 9,41,600/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions, which was covered by the figures appearing in the ledger account and in turn by the aster cash book, for which surrender was already been made and accepted by department, as well. Thus, the addition so made by learned AO on the basis of this document was on misreading of all the aforesaid seized documents. 9. As pointed out by the Ld. Counsel from the documents on record as discussed herein above and on perusal of the entire gamut of seized material, we find that there is a master cash book which is marked AA-6 of R-2 which is based on all other documents seized. Based on the said master cash book, surrender was made with regard to all the enclosed set of books which was accepted by the department. In that case we do not find any reason or justification to make separate addition with regard to the same account incorporated in the ledger account and the entries of ledger account arising out of the master cash book. This precise explanation was also given before the Assessing Officer which has not been adverted to by the Ld. AO. 10. Ld. CIT(A) has given a categorical finding as incorporated above after examining each and every entry appearing in the said seized document ..... X X X X Extracts X X X X X X X X Extracts X X X X
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