TMI Blog2021 (12) TMI 1134X X X X Extracts X X X X X X X X Extracts X X X X ..... ting material found during the course of search conducted u/s 132 of the Act on 09/11/2017 in respect of receipt from employer. As held by the Hon ble High Court of Delhi in the case of Kabul Chawla, [ 2015 (9) TMI 80 - DELHI HIGH COURT] that if no incriminating material found during the course of search for making addition in the unabated assessment, addition cannot be made. We, therefore, following the above judgment, set aside the order of the CIT(A) and direct the AO to delete the addition of ₹ 10 lakhs received by the assessee from his employer - Decided in favour of assessee. - ITA No. 404/Hyd/2021 - - - Dated:- 16-12-2021 - SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER As ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 11 towards ex-gratia and the same had been shown in Form No. 16 and offered to tax. In respect of ₹ 10 lakhs, the AR of the assessee furnished a copy of the bank statement, which was indicated that the amount was received from M/s Trinity Infraventures Ltd. for his personal needs. When asked whether the same had been returned or not, the ld. AR of the assessee submitted that the assessee had resigned from M/s Goldstone Infratech Ltd on 12th December, 2017. The AO noted that the assessee could not furnish any evidence regarding return of ₹ 10 lakhs till the date of assessment. The AO observed that there was no plausible explanation in regard to receipt of ₹ 10 lakhs from his employer and it was not offered as taxable income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of his arguments, the ld. AR relied on various judgments, which are placed at pages 1 to 230 of the paper book, which is placed on record. 8. The ld. DR, on the other hand, besides relying on the orders of revenue authorities, submitted that the lower authorities were justified in making the addition of ₹ 10 lakhs in the hands of the assessee as the assessee could not explain properly in regard to the return of the money to the employer till the assessment as well as till appellate proceedings were completed. He submitted that there was a direct benefit to the assessee of ₹ 10 lakhs in the impugned AY. 9. We have considered the rival submissions and perused the material on record as well as gone through the orders of reve ..... X X X X Extracts X X X X X X X X Extracts X X X X
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