9911796707
TMI Blog2014 (5) TMI 191X X X X Extracts X X X X X X X X Extracts X X X X ..... after the conduct of the search operation at the premises of the assessee in the form of bills or bank account, or property documents or investment in movable and immovable properties, either on his own name or in the name of any his family members, and once the Department could not place any material on record, even after the completion of search operation, suggesting any movable or immovable assets of the assessee, then, the addition should be restricted – Decided against Revenue. - IT (SS) A No.423 to 425/Ahd/2012 With CO No.205 to 207/Ahd/2012 - - - Dated:- 2-5-2014 - Shri G. C. Gupta And Anil Chaturvedi,JJ. For the Petitioner : Shri O. P. Vaishnav, CIT-DR For the Respondent : None ORDER Per Bench: These th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... there are no evidence that can justify any addition to returned income of the assessee. 2. The ld.AO has grossly erred in rejecting book results of assessee without invoking provisions of section 145 of the Act. Ld. CIT(A) has erred in rejecting book result and estimating income of Rs.4,06,852/- (A.Y.2007-08), Rs.33,89,890/- (A.Y.2008-09) and Rs.3,69,815/- (A.Y.2009-10) must be deleted. 4. The learned CIT-DR submitted that the assessee was in the activity of arranging bogus bills, and that was detected as a result of search at the premises of one M/s.Vishal Traders (proprietor Shri Dharmendra Pandya). The assessee has admitted in his statement that he had introduced various parties to Vishal Traders and the proprietor of Vishal Tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nothing was found during the course of search. However, we find that the CIT(A) has given a finding that the assessee has introduced Shri Dharmendra Pandya, proprietor of Vishal Traders to various parties. We find force in the findings of the CIT(A) that the assessee was in the business of earning commission income and the assessee must have earned commission from M/s.Vishal Traders also. Accordingly, we find that the Department was justified in assuming that the assessee must have earned certain commission income from his business of arranging bogus bills. However, in our opinion, no incriminating material was found even after the conduct of the search operation at the premises of the assessee in the form of bills or bank account, or prope ..... X X X X Extracts X X X X X X X X Extracts X X X X
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