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TMI Blog2021 (12) TMI 1185X X X X Extracts X X X X X X X X Extracts X X X X ..... come under the head salaries and income from other sources. During the FY 2009-10 relevant to the impugned AY 2010-11 i.e., on 11.03,2010, a search and seizure operation u/s.132 of the Act, was conducted in the group cases of M/s MBS Jewellers Private Limited wherein the assessee is one of the main promoters. Thus, the search and seizure operation was also carried out in the residential premises of the assessee on 11.03.2010 wherein certain incriminating documents were found and seized by Department. In view of this, FY 2009-10, being the year in which search was conducted the AO issued notice u/s.142(1) of the Act, dated 11.10.2011 calling the assessee to file the return of income for the Impugned AY 2010-11. In response thereto, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion furnished, the assessee has not disclosed the same. As the assessee has failed to disclose the receipt of Rs. 4,80,000/- is treated as undisc1os.ed income and is added to the income returned. 4. During the course of search proceedings conducted at the common residential premises of Sri Anurag Gupta, his father and brother an amount of Rs. 1,21,79,700/- was found in the bedroom of Sri Anurag Gupta and same could not be explained and authorized officer seized an amount of 1,18,00,000/- keeping in view/acts of the case and living standards of family. When put to the assessee, the assessee replied that he cannot produce any evidence in support of the availability of cash found of Rs. 1,21,79,700/-. 4.2 In view of the above facts the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have considered the rival submissions and perused the material on record as well as gone through the orders of revenue authorities. As per the assessment order notices u/s 143(2) and 142(1) along with questionnaire were issued to the assessee on 18th November, 2011 calling for information. As per the order sheet filed by the ld. AR, which is placed on record, clearly shows that there is no issuance of the 143(2) notice. Even, if we go through the assessment order, assessee filed his return of income on 7th December, 2011 in response to the notice u/s 142(1) dated 26/10/2010, whereas, notices u/s 143(2) & 142(1) were issued on 18th November, 2011, the date of which is before filing of the return of income, how is it possible to issue a notic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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