TMI Blog2021 (8) TMI 367X X X X Extracts X X X X X X X X Extracts X X X X ..... No.5753/Del/2016) - - - Dated:- 2-8-2021 - SHRI O.P. KANT, ACCOUNTANT MEMBER AND SHRI KULDIP SINGH, JUDICIAL MEMBER Department by : Sh. Satpal Gulati, CIT(DR) Assessee by : Ms. Shweta Bansal, CA ORDER PER O.P. KANT, AM This appeal by the Revenue and cross objection by the assessee are directed against order dated 17/08/2016 passed by the Ld. CIT(Appeals)-29, New Delhi [in short the Ld. CIT(A)] for assessment year 2012-13. 2. The grounds of the appeal of the Revenue and cross objection of the assessee are reproduced as under: Grounds of Appeal of Revenue: 1. The order of ld. CIT(A) is not correct in law and facts. 2. On the facts and circumstances of the case, the CIT(A) has erred in law in d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e submitted that in one of the group company M/s. HH Interior and Auto components Ltd, the settlement commission has enhanced income of ₹ 15.06 crores, which covers the disclosure of ₹ 12 crore. The Ld. CIT(A) after considering the submission of the assessee deleted the protective addition observing as under: 6. I have gone through the above submissions of the appellant and have considered the facts and evidences on record. I have also considered the case laws relied upon by the appellant. 7. The fact of this case is that a search action u/s 132 of the Act was carried out in the case of Krishna Maruti Group and also at residence of the appellant on 21.10.2011. During the course of search, statement of the appellant wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rastructure Pvt. Ltd. 2011-12 16.03 10. M/s Surge Infrastructure Pvt. Ltd. 2011-12 16.03 11. M/s Panache Infrastructure Pvt. Ltd. 2011-12 16.03 12. Other unexplained expenditures/investments/assets etc. 2011-12 12.00 Total 100.00 7.1 While submitting return of income the additional income of ₹ 12 crores, offered for any further discrepancy has not been disclosed as ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /10/2011 and Second statement of appellant recorded on 16.12.2011. In the first statement, all the pages have been signed by the appellant with the verification that whatever has been stated is true to the best of his knowledge and belief. In answer to question no. 16, and after perusal of the contents of the material seized, the appellant offered an additional income of ₹ 100 crores. It was clearly mentioned that the said statement has been recorded without any force thereat or coercion.... During the course of taking statement, the request of the appellant was considered and he has been provided rest between 1.26 a.m. to 5.46 a.m., when he pointed out to allow sufficient time to take rest. Therefore it clearly transpires that appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appears to be an afterthought. 7.8 During the appellate proceedings it was submitted that vide order u/s 245D(4) dated 05/09.02.2015 in the case of M/s HH Interior and Auto Components Ltd., Flon'ble Settlement Commission has settled the case, increasing the total incremental income from 23.99 crores to 39.05 crores, against ₹ 25 crores, surrendered during the search. Thus it was requested that ₹ 15.06 crores has been enhanced for settlement and the same being much more than the residuary disclosure of ₹ 12 crores, the addition made on protective basis in the hands of appellant is required to be deleted as the same amount has already been subject to tax. 7.9 The contention of the appellant was found correct, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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