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TMI Blog2018 (6) TMI 58X X X X Extracts X X X X X X X X Extracts X X X X ..... ent that all the transactions as per seized cash panna are duly recorded in the regular books of accounts and deleted the addition - DR could not bring any new facts on record to controvert the above findings of the CIT(A). - Decided in favour of assessee. - IT(SS)A No. 92/Ran/2016 - - - Dated:- 30-5-2018 - Shri N.S. Saini, Accountant Member And Shri Pavan Kumar Gadale, Judicial Member Revenue by :Shri K.E.sunil Babu, CIT(A), Dhanbad Assessee by : Shri M.K.Choudhary, Advocate ORDER Per Pavan Kumar Gadale, JM: This is an appeal filed by the Revenue against the order of CIT(A)-3, Patna, dated 21.10.2016, for the assessment year 2012-2013, wherein the Revenue has raised the following grounds of appeal :- 1. Under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... passed u/s.143(3) r.w.s153A of the Act, dated 16.02.2015. 3. Aggrieved by the assessment order, the assessee has filed an appeal with the CIT(A). In the appellate proceedings the assessee argued the grounds and reiterated the submissions made before the AO. The CIT(A) after considering the submissions of assessee and the findings of AO, allowed the appeal of the assessee. 4. Aggrieved by the order of CIT(A), the Revenue has filed an appeal before the Tribunal. 5. Ld. DR before us submitted that the CIT(A) has erred in ruling-out the seized materials marked VRS-16, VRS-23, VRS-25, VRS-26 VRS- 32-35 which clearly indicate that expenses of ₹ 73,70,000/- have been incurred in cash. From the seized documents, it is clearly seen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ill lead to double taxation*. Considering this fact, the disallowance of ₹ 73,70,000/- is not sustainable and the same is hereby deleted. Ld. DR could not bring any new facts on record to controvert the above findings of the CIT(A). Accordingly, we do not find any good reason to interfere with the order of CIT(A) on this issue and the same is upheld and this ground of appeal of Revenue is dismissed. 8. With respect to addition on account of unexplained expenditure, we find that the CIT(A) while dealing with the disputed issue has observed that the assessee has proved from the evidences of its regular cash book and bank statement that all the transactions as per seized cash panna are duly recorded in the regular books of accou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt to prove that the source of fund noted on the cash panna matches withdrawal in the respective bank a/c of the appellant company. Considering these facts, I find that the notings on the cash panna are nothing but part of regular books of a/c of the appellant. The AO has drawn conclusion regarding the transactions in the cash panna merely on the presumption that there could not have been movement of funds by way of huge cash from one office to different branch offices of the company. Further, the AO has picked up only a part of transaction on the right hand side of cash panna as unexplained expenditure or disallowable expenditure ignoring the source of fund on the left hand side and other expenses on the right hand side. This indicates tha ..... X X X X Extracts X X X X X X X X Extracts X X X X
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