TMI Blog2023 (10) TMI 265X X X X Extracts X X X X X X X X Extracts X X X X ..... he details mentioned in the said document, part sum was paid through cheque and remaining was paid in cash. Thus, the A.O. rightly assumed jurisdiction as the twin preconditions mentioned in Section 153C of the Act was satisfied i.e. existence of seized document belonging to the assessee and such seized document having bearing on the determination of the total income of the assessee. Therefore, in our considered opinion issuance of notice u/s 153C/142(1)/143(2) of the Act by the A.O. is justified. Ground of the Assessee is dismissed. Addition u/s 69 - It is observed that the assessee company had purchased four lands situated at Agra during the period from 16/09/2010 to 28/01/2011. The total cost of land part amount paid through cheque ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cussed by the A.O. and even in the calculation of peak credit also, said page was not taken into consideration. Thus, the entries found in the seized document relating to the assessee were not owned up by Sh. Anil Mittal and also the assessee has not produced any document to show that the amount in dispute have already been taxed in the hands of Sh. Anil Mittal. Therefore we dismiss Ground of the Assessee. - Shri G.S.Pannu, President And Shri Yogesh Kumar U.S., Judicial Member For the Appellant : None For the Respondent : Ms. Sapna Bhatia, CIT-DR ORDER PER YOGESH KUMAR U.S., JM: This appeal filed by Assessee against the order of the Learned Commissioner of Income Tax (Appeals)-IV New Delhi [ Ld. CIT(A) , for sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... address of the assessee by the Registry, the notices issued by the registry were returned with an endorsement no such person in the address . Notices were also issued to the assessee to its e-mail id and a representative of the assessee appeared on 05/12/2022 and sought for adjournment, thereafter neither the assessee nor the representative of the assessee have appeared before the Tribunal, therefore, we are compel to decide the Appeal after hearing the Ld. Departmental Representative and on perusal of the material available on record. 4. Brief facts of the case are that, a search and seizure operation u/s 132 was conducted on 12.11.2013 in the case of Eminent Group of cases, wherein, certain incriminating documents were found seized ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /- and as per the details mentioned in the said document, Rs. 26,30,000/- was paid through cheque and remaining Rs. 88,60,000/- was paid in cash. Thus, the A.O. rightly assumed jurisdiction as the twin preconditions mentioned in Section 153C of the Act was satisfied i.e. existence of seized document belonging to the assessee and such seized document having bearing on the determination of the total income of the assessee. Therefore, in our considered opinion issuance of notice u/s 153C/142(1)/143(2) of the Act by the A.O. is justified. Thus, we find no merit in Ground No. 2 of the assessee, accordingly the Ground No. 2 of the assessee is dismissed. 8. Ground No. 3 is regarding confirmation of addition of Rs. 95,60,000/- u/s 69 of the Act. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... render income in respect of loose papers found during the search, hence addition should not be made in the hands of appellant company. For the sake of clarity in the issue page-83 of LP- 15, is reproduced as under: 11. The above said submission of the assessee has not been accepted by the CIT(A) and confirmed the addition made by the A.O. in following manners:- It may be seen from the above page that it has details purchase of four lands situated at Agra by the appellant company, during the period from 16/09/2010 to 28/01/2011. Details mentioned on page gives information of land, size, total cost, Amount paid through cheque, circle rate date of registry and rate of purchase of land per Bigha. In this paper, total cost of lan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 630 having area of 0.2075 hectare in Raibha Tehsil Karavh, for the purpose of purchasing the said land payment of Rs. 1,50,000/- had been made through DD and as mentioned in the seized paper, cash payment of Rs. 7,00,000/- has been made by the Assessee which has been compared by the A.O. on the basis of the ratio of cheque and cash in the registries mentioned in the seized paper. Since the above investments have been made by the Company which has not been disclosed in the books of accounts of the and the A.O. rightly treated the said amount as undisclosed income of the Assessee Company. Thus, we find no error or infirmity in the order of the Lower Authorities, accordingly, the Ground No. 3 of the Assessee is dismissed. 13. In the Groun ..... X X X X Extracts X X X X X X X X Extracts X X X X
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