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TMI Blog2019 (4) TMI 1158X X X X Extracts X X X X X X X X Extracts X X X X ..... d contentions of the assessee passed order dismissing the appeal of the assessee. During the course of hearing nothing has been brought before us to controvert the findings of the CIT(A) which otherwise appear to be correct and reasonable. After hearing the Ld. D.R. and considering the facts on record and merits of the case, we find that the Ld. CIT(A) has passed a reasoned order and we are inclin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inciple of equity natural justice against the stated position of law. 2. Learned A.O. / CIT (A) has erred in making addition of cash of ₹ 95,600=0. 3. Learned A.O./CIT(A) has failed to appreciate that cash found was withdrawn from bank released by investigation dept as explained. 4. Learned A.O./CIT(A) has erred in making addition on account of Diamond Jewellery of ₹ 2,70,80 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee in spite of calls and even no application for adjournment was moved. From the record, we observed that the present appeal was decided ex-parte on 27.04.18. Later on, Misc. Application No. 555/Mum/2017 was filed for recalling the ex-parte order datd 27.04.18. Consequently, after hearing both the parties, the Coordinate Bench of ITAT concluded that assessee should be given one more oppo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... carried out on M/s. Hydroair Tectonics (PCD) Ltd. and its group companies and its promoters. The assessee was also covered under section 132(1) of the Act. During the course of search cash, gold coins and diamond jewellery were found and accordingly additions were made on three accounts namely cash of ₹ 95,600/-, gold coin worth ₹ 6,62,600/- and diamond jewellery of ₹ 2,72,800/- ..... X X X X Extracts X X X X X X X X Extracts X X X X
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