TMI Blog2023 (1) TMI 888X X X X Extracts X X X X X X X X Extracts X X X X ..... in the form of excel sheet which is reproduced supra have been subject matter of detailed consideration by the PCIT in Rule 9 report filed before the Hon ble ITSC. It is a fact on record that the said excel sheet had been duly considered by Shri Ravi S Bhandari in his application filed before the Hon ble ITSC u/s.245C(1) of the Act and the same has been accepted by the Hon ble ITSC vide their order u/s.245D(4) of the Act dated 20/09/2016. When these facts are staring on us, we do not find any justifiable reason to sustain the very same addition emanating out of the very same seized documents in the hands of the assessee company herein. In other words, taxing a sum in the hands of the assessee company would only result in double addition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e is engaged in the business of redevelopment of existing buildings either constructed on private land or constructed on MHADA land or BMC land or Government land. A search and seizure action u/s.132 of the Act was carried out on 09/01/2013 in Kamala Group cases, wherein certain documents belonging to assessee were found. Also from the residence of Shri Nilesh Krishna Gawade, who is connected with Kamala group, a pen drive was found and seized. The ld. AO observed that this pen drive contains documents belonging to assessee company herein in the form of an excel sheet. The return of income for the A.Y.2013-14 was filed by the assessee company on 05/05/2014 declaring total income of Rs.41,33,230/-. Admittedly, the pen drive seized is nothing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 95 Sal Sept (Raj B.). 10/12 3.000 Party A/c - Rajubhai 10/12 6.000 Party A/c Rajubhai 10/12 0.900 Party A/c-Pol Traffic (PK) 10/12 0.766 Exp. 11/12 2.000 Party A/c- Rajubhai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 366.301 3.1. During the course of regular assessment proceedings in the hands of the assessee for the A.Y.2013-14, the ld. AO based on possession of these seized documents, questioned the assessee to explain the said seized documents. More particularly, the ld. AO asked the assessee to explain the cash outflow made in the sum of Rs.3,66,30,100/- which is reflected in the seized document. The assessee stated that the said seized document was seized from the premises of Kamala Mills Ltd during the course of their search and the said seized document would be explained by them and assessee is no way connected with the said seized document. The assessee also stated before th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re of Rs 3,66,30,100/- is duly reflected in this statement of capitalization. (v) Order u/s 245D(4) dated 20.09.2016 in the case of Kamala Group of cases. 3.3. The ld. CIT(A) admitted the aforesaid additional evidences and forwarded the same to the ld. AO to rebut the said additional evidences as required in Rule 46A of the Income Tax Rules 1962. The ld. AO was granted time to reply by the ld. CIT(A). Since no reply was received from the ld. AO, the ld. CIT(A) concluded that the ld. AO has got nothing to comment on this matter. Accordingly, he proceeded to examine the said additional evidences on his own. But since there was no cooperation from the side of the assessee in explaining the additional evidences before the ld. CIT(A), ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... record that the said excel sheet had been duly considered by Shri Ravi S Bhandari in his application filed before the Hon ble ITSC u/s.245C(1) of the Act and the same has been accepted by the Hon ble ITSC vide their order u/s.245D(4) of the Act dated 20/09/2016. When these facts are staring on us, we do not find any justifiable reason to sustain the very same addition emanating out of the very same seized documents in the hands of the assessee company herein. In other words, taxing a sum of Rs.3,66,30,100/- in the hands of the assessee company would only result in double addition. When Shri Ravi S Bhandari had already owned up the impugned transactions together with the said seized documents, there is absolutely no case for making addition ..... X X X X Extracts X X X X X X X X Extracts X X X X
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