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TMI Blog2021 (8) TMI 81X X X X Extracts X X X X X X X X Extracts X X X X ..... " 3. "On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in deleting the addition of Rs. 15,00,000/- on account of uncounted receipts of the assessee on the basis of impounded document." 4. "On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in deleting the addition of Rs. 16,00,000/- on account of unsecured loan of the assessee, the creditworthiness and genuineness of which was not established." 5. "On the facts and in the circumstances of the case and in law, the Ld CIT(A) erred in deleting the addition of Rs. 59,44,187/- on account of cost of contract (consumed)." 6. "On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in deleting the addition of Rs. 3,37,068/- on account of establishment expenses." 7. "On the facts and in the circumstances of the case and in law, the Ld. CIT(A) was not correct in deleting the various additions based on the impounded documents and erred in estimating the turnover of the assessee and working out profit @ 5% without any basis." 2. The assessee has filed Cross Objection No. 149 (Del) of 2018 in above appeal, raising the following four cro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y, wherein during survey certain documents were impounded. Survey was conducted on 30/7/2009. 5. Accordingly notice under Section 148 of the Act was issued on 25th of June, 2013. The assessee requested the original return filed to be treated as return in response to this notice. Assessee filed its objection on 14.10.2013 which was disposed of by the ld. Assessing Officer by passing a separate order on 17.12.2013. 6. Thereafter the ld. Assessing Officer passed an assessment order under /section 147 read with Section 143(3) of the Act on 26th of March, 2014 wherein he made an addition on several counts and assessed the total income of the assessee at Rs. 6,31,70,580/-. 7. The assessee aggrieved with the above order challenged the same before the ld. CIT (Appeals) on two counts. The first issue raised was about the legal ground for assuming jurisdiction under Section 147 of the Act and the second issue was with relation to the addition made by the ld. Assessing Officer in the re-assessment proceedings. The ld. CIT (Appeals) upheld the action under Section 147 of the Act confirmed certain disallowances / additions and deleted some. Based on this the appeal of the assessee was partly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al contentions on the issue of re-opening of the assessment. Briefly stated the fact shows that assessee filed its return of income on 29.09.2009 and assessment under Section 143(3) of the Act was passed on 26th of March, 2013. Prior to that there was survey conducted on the assessee on 30th July, 2009 coupled with a search and seizure operation at the business premises of Ram Prastha Builders Pvt. Ltd. Therefore, it is apparent that there was simultaneous search on Ram Prastha Builders Pvt. Ltd. on 30th July, 2009 and survey on the assessee on the same day. The appellant was working with Ram Prastha Builders Pvt. Ltd. as a Civil Contractor and was having site office at the premises of that company. During the course of survey certain documents were impounded from the office of the assessee. Based on these documents the ld. Assessing Officer examined the assessee during the course of assessment proceedings wherein the assessee submitted the explanation about those documents. Assessee also offered certain income based on these documents. Consequent to that the assessment of the assessee was completed. Thereafter the ld. Assessing Officer recorded the following reasons for re-opening ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 11/12/2008. This amount has been admitted to be unexplainable turnover by the assessee 5. Page No. 6 is a receipt of Rs. 5,00,000/- dated 10/01/2009 issued on behalf of Sahyog Infrastructure Pvt. Ltd. The assessee vide letter dated 26/03/2013 explained these as "Does not pertain to us. 6. Page No. 8 is a receipt of Rs. 10,00,000/- dated 27/12/2008. The assessee vide letter dated 26/03/2013 explained these as "Does not pertain to us. The assessee itself admitted that the Page 4 & 5 as discussed above represents its unexplainable turnover not offered to tax. Further, in view of the details of the other documents discussed above I have reasons to believe that amounts appearing in the impounded documents in S. No. 1-6 represents income of the assessee for the A.Y. 2009-10 which has escaped assessment. " 8. Based on the above reasons recorded, notice under Section 148 of the act was issued to the assessee on 25th of June, 2013. From the above reasons recorded it is evident that all these documents were available with the ld. Assessing Officer at the time of making original assessment under Section 143(3) of the Act. Assessing Officer asked for the detailed explanation of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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