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TMI Blog2013 (3) TMI 511X X X X Extracts X X X X X X X X Extracts X X X X ..... 993 of 2010 - - - Dated:- 30-1-2012 - MR. AKIL KURESHI AND MS. SONIA GOKANI JJ. Appearance: MRS MAUNA M BHATT for Appellant ORAL ORDER (Per : HONOURABLE Ms. JUSTICE SONIA GOKANI) Revenue, being aggrieved by the Order of the Income Tax Appellate Tribunal, Rajkot Bench { Tribunal for short} dated 4th December 2009, proposes following questions of law for our consideration :- [A] Whether on the facts and in the circumstances of the case and in law, the ITAT is right in deleting the additions of Rs. 26,80,000/= made by the A.O as undisclosed income of the assessee ? [B] Whether on the facts and in the circumstances of the case and in law, the ITAT has erred in not appreciating properly a plethora of evidences pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Assessing Officer did not find it plausible that the person could have cash of Rs. 28 lakhs, as explained by him, and therefore, he made an addition of Rs. 26.80 lakhs as undisclosed income under Section 69A of the Act. When this was challenged before the CIT [A], it also in its elaborate reasonings concurred with the findings of the Assessing Officer and held that there was a correct approach of the Assessing Officer in rejecting the books of account, for they being not reliable and prepared intentionally to inflate the cash balance. For not having satisfied with the source of the seized cash, this addition of Rs. 26.8 lakhs was confirmed by the CIT [A]. This was when challenged before the Tribunal, the Tribunal did not agree with bot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re of cash. Therefore, the first spontaneous statement has more credence that further statements. The disclosure of income was affected from subsequent statements which are retracted by filing an affidavit. The fact that the assessee expired during the course of assessment proceedings itself goes to prove that he was not keeping well during the entire proceedings. Therefore, the finding of the A.O and the learned CIT [A] that in the statement the assessee himself had admitted disclosure and hence, the addition is made/confirmed, holds no relevance or significance. 16. The ld. CIT [A] while concluding his finding, had expressed apprehension that the cash received from Cham may have spent towards business expenditure and therefore, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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