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TMI Blog2018 (1) TMI 1037X X X X Extracts X X X X X X X X Extracts X X X X ..... ught to be evaded on concealed income of Rs. 1,29,52,053/-. 2. The appellant craves leave to add, to alter or amend any ground of appeal raised above at the time of hearing." 2. Brief facts of the case are as under: Assessee is a company engaged in the business of real estate development. A search and seizure operation under section 132 of the Act was carried out on Rajdarbar group of cases on 31/07/08. Assessee filed its return of income for the year under consideration on 22/03/10 declaring total income of Rs. 11,95,100/-, in response to notice under section 153A of the Act. Assessment was completed under section 153A read with 143(3) of the Act on 29/12/10 at total income of Rs. 1,58,74,490/-. Assessing officer made an addition of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tor of assessee. As per revenue, the payments of all these bills were not accounted for in the books of account as these cannot be reconciled with the books of account and only on this basis, the revenue presumed that these payments have been made out of undisclosed source. We have perused the seized material and the relevant provisions of section 69C of the Act. This seized material relates to certain correspondence by which the brokers have demanded their commission. As per these correspondences, the rate of commission asked was varying from 4-6%. There is no document referred by the AO or by the CIT (A) or even before us by the revenue which could show that the rate of commission was in the range of 4-- 6%. Further the revenue has failed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed -such expenditure. This cannot be made basis for addition made u/s 69 of the Income-tax Act while framing the assessment u/s 153A of the Income-tax. Act,1961. There is no evidence gathered by revenue from anywhere, which could establish a bit of the fact that assessee has paid anything more than whatever recorded in the books of account. Therefore, in our considered view, such addition cannot be sustained. 13.1. The revenue has also raised the issue of admitting additional evidence in contravention of Rule 46A of the Income-tax Rules. Our notice was brought to the relevant copies of the ledger account showing payments to various parties on which TDS was deducted. The confirmation of the account was also filed along with ledger account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... account of the statutory prescription are to be complied with, yet the foundational facts necessary for the Court or 'Tribunal to seek recourse to such stipulation is essential. In the present case apart from the demands made by the five named commission agents or brokers for a higher rate or commission at 4-6%, there was no reasonable basis for the Revenue to assume or conclude that in fact such amounts. constituting the difference of what was revealed in the books and, what would arise on account or fulfilment of such demands were actually paid. Had there been any material in the form or even the vaguest documents or ledger or book entry in support of the Revenue's contentions or even a statement under Section 132 (4) or any reply ..... X X X X Extracts X X X X X X X X Extracts X X X X
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