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TMI Blog2012 (11) TMI 316X X X X Extracts X X X X X X X X Extracts X X X X ..... deleting the addition of Rs.6,82,400/- made by the A.O. on account of unaccounted and unexplained cash found during the course of search proceedings from the premises of the assessee." 3. In this case a search operation had taken place at the business premises on 2-12-1999. During the search proceedings cash of Rs. 6,82,000/- was found out of which Rs. 6,65,000/- was seized for the reason that the assessee could not explain and prove the actual source of cash. The assessee filed block return of income on 31-3-2000 disclosing a total undisclosed income of Rs. Nil. During the block assessment proceedings the assessee stated that the cash belonged to "Vanita Park Project" which belonged to his brother but could not substantiate its claim an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot be explained. He was further of the view that the entries in the cash book of Shri Mohanbhai Patel (Prop. Mahavir Developers) was considered to be after thought and created for the purpose of avoiding taxation. He thus held that assessee could not adequately prove that the cash seized from the possession of Shri Damodarbhai Patel belonged to Shri Mohanbhai Patel. In view of the aforesaid facts, the A.O. concluded that Rs. 6,82,000/- represents unaccounted cash of the assessee and therefore added it to the assessee's income. 4. Aggrieved by the action of the A.O. the assessee carried the matter before CIT (A). Before CIT (A) it was submitted by assessee that in answer to the question No.14, recorded on 11-1-2000,Shri Damodarbhai Patel h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ubmitted that the A.O. has rightly added the income in the hands of the assessee. He thus supported the order of A.O. 7. On the other hand the Ld. A.R. pointed to the answer to Question No.14 of the statement of Shri Damodarbhai Patel recorded on 4-1-2000 where he has stated that the cash is of Vanita Park project. He also placed on record at page 22-23 of the paper book the copy of the assessment order dated 28-12-2006 passed u/s. 143(3) of Mahavir Developers (prop Shri Mohanbhai Patel) for A.Y. 2004-05 wherein the A.O. has in para-2 stated "the assessee derived income from proprietary concern M/s. Mahavir Developers. In Mahavir Developers, the assessee had the project of Vanita Park apartment, Surat." He also placed on record at page-19 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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