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2017 (9) TMI 1925 - ITAT CHENNAISearch proceedings - cash available with the assessee and sale proceeds from jewellery - second round of litigation before this Tribunal - Second round of litigation before this Tribunal - in the first round of litigation, this Tribunal directed the Assessing Officer to examine the search documents and find out the cash available with the assessee and sale proceeds from jewellery and thereafter find out whether the sale proceeds have been used for acquisition of any other asset. If it is not found, then corresponding credit should be given towards unaccounted money lending business - On appeal by the assessee, the CIT(Appeals) deleted the addition made by the Assessing Officer - HELD THAT:- It is an admitted fact that no appeal was filed either by the Revenue or by the assessee against this order of the Tribunal. In other words, the order of this Tribunal dated 17.10.2008 has attained finality. Therefore, the Assessing Officer has to examine the search documents and find out whether cash was available with the assessee and sale proceeds of jewellery were used for acquisition of any other asset. If it is not utilised, then corresponding credit should be given to the unaccounted money lending business as directed by this Tribunal. In this case, the Assessing Officer specifically found that there was no evidence for acquisition of other assets by the assessee. Therefore, the CIT(Appeals) has rightly deleted the addition made by the Assessing Officer. Hence, this Tribunal do not find any reason to interfere with the order of the lower authority and accordingly the same is confirmed. Appeal filed by the Revenue stands dismissed.
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