TMI Blog2023 (5) TMI 371X X X X Extracts X X X X X X X X Extracts X X X X ..... which came to be considered in detail by the ITAT in para 10 of the order passed by the ITAT. As found that there has been search in the case of the assessee and its group concern on 07.01.1999 which was concluded on 23.03.1999 and during the course of the search, duplicate cash book, ledger and other books showing the unaccounted manufacturing and trading arrived at by the assessee in diamonds were found. ITAT has also noted that the huge addition was made in the case of assessee s group in the block assessment on the basis of the books so found. Therefore, it was found that the assessee was maintaining the books of accounts outside the regular books. The aforesaid has not at all been considered by the High Court, while passing the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as found to be between 10-18%, the Assessing Officer made the aforesaid additions. The Assessing Officer also considered the alternative prayer made by the assessee on claiming deductions as expenditure under Section 80HHC. The CIT (Appeals) reversed the addition. The ITAT, on appreciation of the entire material on record and even after taking into consideration the remand order which was necessitated due to the affidavits filed before the ITAT of the Typist and the Chartered Accountant, reversed the order passed by the CIT (Appeals) and restored the Assessment Order by upholding the addition of Rs. 17,50,00,000/- as unexplained expenditure under Section 69C of the Act. By the impugned judgment and order, the High Court has set aside the or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Assessing Officer submitted his comment in the remand report also. 7. It is submitted that, while passing the impugned judgment and order, the High Court has solely relied upon the affidavits of the Typist and the Chartered Accountant and the High Court has not at all considered the conduct on the part of the assessee and its associates, which came to be considered by the Assessing Officer as well as the ITAT. 8. Making the above submissions and relying upon the findings recorded by the Assessing Officer, which came to be affirmed by the ITAT, it is prayed to allow the present Appeal. 9. We have gone through the findings recorded by the Assessing Officer, CIT (Appeals) as well as the ITAT. Before the Assessing Officer, though ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at there has been search in the case of the assessee and its group concern on 07.01.1999 which was concluded on 23.03.1999 and during the course of the search, duplicate cash book, ledger and other books showing the unaccounted manufacturing and trading arrived at by the assessee in diamonds were found. The ITAT has also noted that the huge addition was made in the case of assessee s group in the block assessment on the basis of the books so found. Therefore, it was found that the assessee was maintaining the books of accounts outside the regular books. The aforesaid has not at all been considered by the High Court, while passing the impugned order. 10. In view of the above and for the reasons stated above, the impugned judgment and orde ..... X X X X Extracts X X X X X X X X Extracts X X X X
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