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TMI Blog2005 (4) TMI 253X X X X Extracts X X X X X X X X Extracts X X X X ..... driver namely Mohammed Abdul Rahim of the assessee on 6th Aug., 1993 by the police. On enquiry it was stated by the driver that the said cash belonged to the appellant. Due to this reason IT Department was informed so cash .was seized under s. 132A of IT Act. Before the police authorities the appellant has admitted that the money belonged to him and the said cash was in respect his wholesale mutton business. Names of ten persons stated to be relatives of the appellant were given in respect of sum of Rs. 5,20,000 and it was explained that the said cash was taken from them for the purpose of purchase of goats for them. List of such ten persons was given in the body of assessment order as follows: --------------------------------------- S.No. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessee gave two statements before the police authorities, one on 6th June, 1993 and the other on 7th Aug., 1993. Subsequently, one more statement under s. 131 was recorded by IT authorities on 13th Nov., 1995. The observation of the AO was that the assessee had given certain contrary statements on these occasions. However, during the course of assessment proceedings several affidavits from those persons listed at S1. Nos. 1 to 8 were filed. The AO has also recorded the statement of those persons who were produced before. The AO was not convinced with their statements and affidavits and have recorded that all those persons were doing the retail business of mutton on small scale hence not in a position to advance the amount as stated by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... parent that there is no evidence on record to show that the said cash was owned by the assessee or in any manner belonged to the assessee. The said cash was simply seized from the possession of the driver of the assessee by the police authorities. From the inception of the cash seizure the appellant has kept on explaining that being in a wholesale mutton business he has taken the said amount from his relatives and for the purpose of purchase of goats on behalf of those relatives who were stated to be in the business of retail mutton sale. Their statements have also revealed that independently they were having stalls in the market and doing retail business of mutton sale. They have been produced before the AO and their statements have also b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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