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TMI Blog2012 (11) TMI 616X X X X Extracts X X X X X X X X Extracts X X X X ..... s earlier orders and granting relief to the assessee.. Issue decides in favour of assessee Addition on account of unexplained money – Cash found during search - Books of accounts were not available at the time of search - Assessee had maintained books and they were produced before the assessing authority - Books were not rejected in the course of assessment – Held that:- When we consider the entire aspects, in view of the fact that the cash balance was available in her hands as per cash book. The CIT(A) has deleted the addition of Rs.17 lakhs on sound and reasonable ground. In favour of assessee Addition on account of unexplained investment - Gold jewellery and diamonds – Held that:- The assessee coming from an affluent family, reason ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dditions were made by the assessing authority and as such the assessment was finally completed on a total income of Rs. 41,48,730/-. 3. When the matter was taken in first appeal, the facts leading to all the additions have been considered by the Commissioner of Income Tax(Appeals) in a detailed manner. After going through the facts and circumstances of the case and particularly the reasons of additions, the Commissioner of Income Tax(Appeals) granted certain reliefs. The Revenue is aggrieved by the reliefs granted by the Commissioner of Income Tax(Appeals) and therefore, the second appeal before the Tribunal. 4. We heard shri Vikramaditya, learned JCIT appearing for the Revenue and shri A.Mahesh, FCA, learned Chartered Accountant appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase while considering the appeals for the Assessment Years 2002-03 to 2006-07 filed before it. In the common order passed by the Tribunal dated 20th January, 2012 in ITA Nos. 1533 to 1537/Mds./2010 along with cross objections Nos.150 to 154/Mds/2010, the Tribunal has deleted similar additions after examining the facts of the case. As such, we have to see that the issue is already covered by the decision of the Tribunal. The order of the Commissioner of Income Tax(Appeals) on this point is sustainable in law. 9. The next issue raised by the Revenue in the present appeal is that the Commissioner of Income Tax(Appeals) has erred in deleting the addition of Rs.1,02,291/- made by the Assessing Officer against interest and chit kazar. This issu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Rs.4 lakhs was found at the residence of the assessee, which also on the same ground added to the income of the assessee. It is how a sum of Rs.17 lakhs has been added to the income of the assessee. The explanation offered by the assessee is that she had received Rs.10 lakhs from her father-in-law and she also had received Rs.7 lakhs from maturity of chit funds. 12. On going through the records of the case in a detailed manner, the Commissioner of Income Tax(Appeals) found that there was ample cash balance available in the cash book of the assessee. The Commissioner of Income Tax(Appeals) has observed that the books of account produced by the assessee at the time of assessment have not been rejected. As per the cash book, sufficient cas ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ere the evidences produced by the assessee were rejected by the assessing authority. When we consider the entire aspects, especially in view of the fact that the cash balance was available in her hands as per cash book, we are inclined to agree with the findings arrived at by the Commissioner of Income Tax(Appeals) on this issue. The Commissioner of Income Tax(Appeals) has deleted the addition of Rs.17 lakhs on sound and reasonable ground. Therefore, this ground raised by the Revenue is dismissed. 14. The last ground raised by the Revenue in the present appeal is that the Commissioner of Income Tax(Appeals) erred in deleting the addition made by the assessing authority against unexplained investment in gold jewellery and diamonds. This is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the amount is very negligible and by all means inherently explained by the financial position of the assessee and her family. 15. On going through the detailed discussion made by the Commissioner of Income Tax(Appeals), we find that the findings arrived at by him are to be accepted. He has examined the statements made by different persons at the time of search and has tabulated the details of gold ornaments available in the hands of different persons and has reasonably worked out the account of gold jewellery in the hands of the assessee. Therefore, we find that no interference is called for in the order of the Commissioner of Income Tax(Appeals) on this issue. 16. In result, this appeal filed by Revenue is dismissed. - - TaxTMI ..... X X X X Extracts X X X X X X X X Extracts X X X X
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