TMI Blog2023 (7) TMI 126X X X X Extracts X X X X X X X X Extracts X X X X ..... that the issue is not yet mature for determination of the ownership of the cash in both the assessee. The substantive assessment and protective assessment both are still alive for determination. Both the ld. Ars has filed new documents before the bench which is not yet verified by the ld. AO. So, the entire grounds of appeal of both the assessees are remitted back to the ld. AO for further adjudication considering the final determination of the Hon ble High Court. - I.T.A. No. 28/Asr/2023 And I.T.A. No. 193/Asr/2014 - - - Dated:- 26-5-2023 - Dr. M. L. Meena, Accountant Member And Sh. Anikesh Banerjee, Judicial Member For the Appellant : Sh. Dalip Kumar Kaul, And Sh. Tarun Bansal, ARs. For the Respondent : Sh. S. M. Surendran ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed only on a handwritten plain paper denial statement sent by fax by son-in-law of the appellant which by no stretch of imagination can be termed as an evidence against the appellant especially when seen in light of affidavit made under oath before the Oath Commissioner and an Advocate and submitted before the Hon'ble High Court of Gujarat and the same having not been proved to be false. That addition has wrongly been made as the basic condition precede t to invocation of section 69A has not been met and hence deserves to be quashed. 4. The addition of Rs. 5,50,000 has been made without judicious appreciation of facts and records available with the Ld. AO and is based only on one factor that the appellant could not produce the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that Rs. 26,40,100/- on account as cash seized in apartment owned by Mr. Kadlabjuwas related to elder son-in-law, Mr. Arjun Basu situated at state of Ahmedabad. Both the assessee are filed appeal before the ld. CIT(A). The ld. CIT(A) rejected the appeal of the assessee on the ground that the ownership is still yet determined by the Hon ble High Court of Gujarat related to the matter of the CBI. The case is still pending and not yet decided. Being aggrieved against the appeal orders both the appeals are filed before us. 5. Both the ld. ARs filed a paper book which are kept in the record. As the matter still yet pending before the Hon ble High Court of Gujarat, the ownership of the cash is not yet determined. 6. The ld. DR argued and pl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed completely with the rules and outcomes of other acts. Hence, these proceedings are concluded without waiting for the outcome in the pending suit in the high court. Also, it is brought on record that the order u/s 143(3), which is the subject matter of appeal, was passed on 24/3/2004 and appeal filed on 27/4/2004. More than 18 years has passed and this is a long time to continue to keep in abeyance the proceedings. Further delay only harms the interest of the assessee, which will add to the interest burden on non-payment of the demands raised. Further, in case of any favourable outcome, the assessee has always the option to rely on the same and request for its applicability to provide relief in further appeal under the IT Act, this b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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