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TMI Blog2008 (1) TMI 893X X X X Extracts X X X X X X X X Extracts X X X X ..... ch cash of ₹ 23,75,250 was found, out of which ₹ 23,00,000 was seized as per Annex. C . This cash was stated to belong to M/s Soni Marbles the details of which were given by the assessee as under : During the course of search, Shri Radheshyam Soni was also confronted regarding cash of ₹ 23,75,250 found at the residence of his father at Fatehnagar. He replied that he kept ₹ 16 lakhs in the safe of his father s home, which was withdrawn from the books of M/s Soni Marble from time to time. He further stated ₹ 5,00,000 was also withdrawn by another partner of M/s Soni Marble, Shri Murli Dhar Soni on 12th Oct., 2002. The AO did not accept the above explanation of the assessee and made the impugned addition. On t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that there was a sufficient cash balance available on the dates of withdrawals in the cash book of M/s Soni Marble. The assessee had furnished the entire details of sales made from 1st October till the date of search along with dates, truck number, sale amount, royalty details, amount of royalty, sales-tax number etc. The AO verified the entire details and did not find any discrepancy therein. From the report dt. 21st Dec., 2005, it is also manifested that the AO did not dispute the claim of the assessee, however, he added that there was no nexus between the cash of ₹ 16 lakhs and ₹ 5 lakhs and the amount found during the course of search. But from the evidences available on record, we are convinced that the cash of ₹ 21 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... so stated that she possessed 75 tolas of gold jewellery and for the last 10 years she did not purchase any new jewellery. She also received 233.28 gms. of gold (20 tolas) as per the will of her mother-in-law Smt. Ram Sukhi Devi. This gold was seized as per page Nos. 1 to 3 of Annex. N-23 of Panchnama dt. 23rd Oct., 2002 of M/s Rajasthan Agriculture Industries. Out of 646 gms. gold jewellery found, the AO has treated 583 gms. as explained but added ₹ 32,605 for the remaining gold jewellery weighing 63 gms. During the assessment proceedings, it was found that in VDIS 1997 she has declared 155 gms. of gold ornaments valuing to ₹ 35,852 in support of which VDIS papers were enclosed as per Sch. No. 7. We have heard the rival submi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... AO along with original passbook, which was verified during the course of hearing on 30th Sept., 2004. But the AO was not convinced and made the impugned addition, the learned CIT(A) by referring to the same addition in the block assessment of Shri Murlidhar Soni dealt with this same issue on substantive basis and the same was deleted in the case the AO has made the addition on protective basis (sic). Therefore, the learned CIT(A) has deleted the impugned addition. After hearing rival submissions, we do not find any merit in this ground of the Revenue because this amount have already been considered and decided on substantive basis in the hands of Shri Murlidhar Soni. The same amount cannot be considered to be accepted at the same time. T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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