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TMI Blog2024 (7) TMI 646X X X X Extracts X X X X X X X X Extracts X X X X ..... ferred as Learned AO) making addition of Rs. 42,98,086/- on account of unexplained cash credit under section 69C of the Income Tax Act, 1961(hereinafter referred as the Act). 2. Brief facts of case are that a search and seizure action under section 132 of the Income Tax Act, 1961 was carried out in "M/s. Corporate International Financial Services Limited and others Group and associates" on 10.10.2018. A search warrant of authorization under section 132 of the Act was issued in the name of Shri Kailash Gahlot resident of C-6/6172, Vasant Kunj, Delhi on 10.10.2018. Thereafter jurisdiction of the case was transferred to the office by centralization order dated 16.09.2019 from the Pr. Commissioner of Income Tax, Delhi - 21, to New Delhi. 3. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the diary was written by Shri Rohit Sharma and the same belonged to him. Affidavit of Shri Rohit Sharma was also filed. 4. The Learned AO vide order dated 12.04.2021 concluded that amount of Rs. 42,98,086/- was unexplained and added it to the total income of the assessee under section 69C as unexplained expenditure for the year under consideration and taxed under section 115BBE. 5. Appellant/assessee preferred appeal before the Learned CIT(A) which was dismissed vide order dated 30.09.2023. 6. Being aggrieved appellant/assessee preferred present appeal. 7. Learned authorised representative for appellant/assessee submitted that Learned CIT(A) erred in confirming addition of Rs. of Rs 42,98,086/- as unexplained expenditure u/s 69C of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee submitted that the Learned AO erred in law in making addition of Rs. 42,98,086/- as unexplained expenditure under section 69C of the Act without appreciating that there were many duplicate/ triplicate entries in said diary and all amounts could not be aggregated for purpose of computing the amount spent. 10. Learned authorised representative for appellant/assessee submitted that impugned orders are bad in law as having been based on mechanical approval under section 153D of the Act without due application of mind. 11. Learned authorised representative for appellant assessee submitted that Learned AO erred in law and on facts in charging tax under section 115BBE of the Act whereas the additional tax liability was applicable w.e.f. AY ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the diary found from his office was of Shri Rohit Sharma. The diary mentions expenses incurred on election contested by several candidates of Aam Aadmi Party. Affidavit of Shri Rohit Sharma was also filed. (from page 38 to 42 of Paper Book). 14. An affidavit of Shri Rohit Sharma at pages 38 to 42 of paper book contains para No. 6 regarding entries on each page of diary mentioning amounts and figures. The contents of affidavit especially para No. 6 do not properly explain entries as names of person paying the amount and the expenses paid are vaguely mentioned. Names of relatives of appellant/assessee are also mentioned. Shri Rohit Sharma had stated that only Rs. 10,95,700/- was incurred for promotion of Aam Aadmi Party and many candidates ..... X X X X Extracts X X X X X X X X Extracts X X X X
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