9911796707
TMI Blog2015 (7) TMI 1254X X X X Extracts X X X X X X X X Extracts X X X X ..... t a mistake has occurred which is apparent on record at Para No.102 of the Tribunal’s order in the case of Balwinder Singh Bagga and others dated 3.8.2012. Hence we recall the order of Tribunal [2012 (8) TMI 1114 - ITAT HYDERABAD] for limited purpose of hearing the issue in Para No.102 and direct the Registry to re-fix the hearing. - M.A. Nos. 111, 112 & 113/Hyd/2013 (Arising out of ITA Nos. 710/Hyd/2006 & 766/Hyd/2007 & 904/Hyd/2008)), M.A. No.60/Hyd/2013 (Arising out of ITA No.709/Hyd/2006) M.A.No.114/Hyd/2013 (Arising out of IT(SS)A No.50/Hyd/2005) - - - Dated:- 30-7-2015 - Shri B. Ramakotaiah, Accountant Member Smt.Asha Vijayaraghavan, Judicial Member For Assessee : Shri P. Murali Mohan Rao For Revenue : Shri Rajat Mitra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax liability by the said payment. 4. 4. It is further submitted by the petitioner that the balance sheet and P L a/ c for M/ s Intra Port India Ltd for the year ending 31st March, 2002 which were admitted for adjudication by the ITAT as Para 93 of its order in ITA No.766/Hyd/2007. The balance sheet and profit and loss account clearly shows that no person from Bagga Group is Director of M/ s. Intra Port India Ltd. Further a copy of Form No.29 submitted before the Registrar of Companies was also submitted which clearly indicates that Sri Satpal Singh Bagga, brother of the assessee was appointed as Director of the company only from 24th April, 2004, copies of which were enclosed. The payment of interest was made only after series of negot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... submitted by the Petitioner that assessee was in receipt of ₹ 25.00 lakhs from her mother as gift. The money was received by the assessee's mother from Intra Port India Ltd and the ITAT vide order in Para 73 have mentioned that M/s. Intra Port India Ltd is a group concern of Bagga Group which is not correct. The Petitioner submitted balance sheet and P L a/c of M/s. Intra Port India Ltd for the year ending 31st March, 2002 which dearly shows that no person from Bagga Group is director of M/s Intra Port India Ltd and assessee is not related to Intra Port India Ltd., either directly or indirectly. Assessee submitted all the details regarding the source of funds received. Amount received is through proper banking channel, hence as p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... books of accounts have to be enquired into only in the regular assessment (but not in block assessment), unless there is some incriminating material found and seized during the search which has bearing on the disclosed transactions. It is further submitted that the AO had made additions in respect of the credits which were entered in the books of accounts in respective A.Ys before search proceedings were taken up and were also done through bank cheques/drafts. 3. At Para No.22.1, we find that there is an error apparent on record in the order of the Tribunal. Hence, we recall the order for the limited purpose of re-hearing issue in Para No.22.1. Registry is directed to re-fix the hearing accordingly. 4. In the result, M.A. No.114/Hyd/ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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