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TMI Blog2019 (9) TMI 435X X X X Extracts X X X X X X X X Extracts X X X X ..... ere in the findings so recorded by the ld. CIT(A), therefore, we uphold the order of the ld. CIT(A) in deleting the addition - Decided in favour of assessee - ITA No. 554/JP/2018 - - - Dated:- 16-5-2019 - SHRI RAMESH C SHARMA, AM AND SHRI VIJAY PAL RAO, JM Revenue by: Shri B.K. Gupta (CIT-DR) Assessee by: Shri Vijay Goyal (CA) ORDER PER: R.C. SHARMA, A.M. This appeal by the revenue is directed against the order dated 01/02/2018 of ld. CIT(A)-4, Jaipur for the A.Y. 2013-14 in the matter of order passed U/s 143(3) read with Section 153B(1)(b) of the Income Tax Act, 1961 (in short the Act). The grounds taken by the Revenue reads as under: 1 Whether on the facts and the circumstances of the case, the ld. CIT(A) was right in deleting the addition of ₹ 68,40,468/- made on the basis of figures as per documents seized from the residence of Shri Neeraj Ajmera, one of the employee of the assessee group. 2. Rival contentions have been heard and record perused. Facts in brief are that the assessee derives its income from salary, house property, capital gain an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ₹ 14.57 crore was surrendered by assessee thus in view of the figures recorded in seized documents, unaccounted payment to AIPL was increased by the A.O. to ₹ 68,40,468/- in the overall undisclosed figure of ₹ 14.57 crore. 4. By the impugned order, the ld. CIT(A) deleted the addition of ₹ 68,40,468/- after observing as under: 6. I have perused the order of AO and submissions made by the Appellant in this regard. I have also perused the relevant seized document in question (placed on APB) on the basis of which additions are made by the AO. In ground No 1, the assessee raised the dispute over legality of the order u/s 143(3) r.w.s. 153B (1)(b) passed by the AO challenging that the assessment is based purely on the recommendation in appraisal report and the AO has not applied his mind. The AR of the assessee has not brought any material to show that the assessment is based on the recommendation in appraisal report. The AO has examined the seized documents and the AO has dealt with the explanation filed by the assessee during the course of the assessment proceedings. Therefore, the ground no 1 of the assessee is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not represent the payments made to parties in cash but it represents to either payment made to parties in cash or payable to parties as on the date of preparation of sheet, part payment of which was made through a/c payee cheque. The AO did not accept this plea of the assessee by mentioning that no detail has been submitted during the course of search as well as during the course of assessment proceedings showing that out of total amount written in column B how much amount was recorded in books of accounts and how much payment was made in cash which was not recorded in books of accounts. The AO mentioned that no reconciliation as regard to figure written in column B has been submitted by the assessee. I found that the assessee has submitted a sheet to the ld. AO (Copy at PB Page 88 to 90) along with reply dated 09.03.2015 (Copy at PB Page 78 to 87) wherein the reconciliation of total amount recorded in books of accounts as against amounts mentioned in the excel sheet was worked out and unrecorded payments of ₹ 11,31,37,408/- was worked out on the basis of excel sheet and other documents/evidences found as a result of search and the ld. AO has not pointed out any defects in th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T-DR Shri B.K. Gupta that during the course of search at residence of Shri Neeraj Ajmera (employee of assessee group who was looking after the work of construction of Motisons Tower) at Page No. 41-43 of seized Annexure BS-11 the shape of internal correspondence and reconciliation done by Alumayer India Pvt. Ltd. and Motisons Global Pvt. Ltd. was found and as per such detail the total amount in respect of work done by AIPL comes to 5,92,22,392/, out of which ₹ 5,23,81,924/- was only found recorded in excel sheet of Shri Banwari lal Yogi, therefore, it is clear that an amount of ₹ 68,40,468/- was not recorded in the MS Excel sheet on the basis of which the undisclosed income of ₹ 14.57 crore was surrendered by assessee thus in view of the figures recorded in seized documents, unaccounted payment to AIPL was correctly increased by the A.O. to ₹ 68,40,468/- in the overall undisclosed figure of ₹ 14.57 crore. 7. The ld CIT-DR has further argued that during the course of search and after post search in his statements the assessee admitted the undisclosed income of ₹ 14,57,28,753/- on a/c of undisclosed investment in construction of blin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t (Copy at PB Page 88 to 90) reconciling the figures mentioned in seized paper page No 127-131 of Annexure AS 1 seized from B-9 Vivekanand Marg, C-Scheme, Jaipur (PB pg 43-47). In the reconciliation chart submitted before the AO, the total amount against the construction expenses is same. Therefore, there is no under-statement in the total investment shown in the seized document and reconciliation chart submitted before the AO. He further submitted that the figures mentioned under Column A and B of the seized excel sheet, the assessee explained to the AO that the amount mentioned in the column A of this sheet represents the payments made to the parties through a/c payee cheque till the date of preparation of this sheet. As regard Column B the assessee explained that the amount mentioned in column B represents to either payment made to parties in cash or payable (Outstanding) to parties as on the date of preparation of sheet. Afterwards, out of amount mentioned in column B , part payment was made through a/c payee cheque. 11. As per the ld AR, in support of the amount recorded in the books of account the assessee submitted copy of ledger account of all the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he search, the department has also recorded statement of assessee on 05/11/2012 and 08/11/2012 U/s 132(4) of the Act in respect of excel sheet. We found that in both the statements the assessee explained to search party that the contents of the excel sheet are not in his knowledge and the same was prepared by his accountant, therefore the proper explanation and reconciliation of the sheet could be submitted after seeing the seized records and discussion the matter with his accountant. In the statement recorded on 05.11.2012 the assessee surrendered additional income of ₹ 6,00,00,000/- on ad-hoc basis without verifying/reconciling the figure of the excel sheet from regular books of accounts. In the further statement recorded on 08.11.2012, the assessee surrendered ₹ 14,57,28,583/- on the basis of this sheet presuming that the figure written in column B of this sheet is in respect of unaccounted payments. However, this surrender was conditional surrender which was subject to verification/reconciliation of sheet from regular books of accounts and discussion with Shri Banwari lal Yogi who prepared this excel sheet and in the same question the assessee clarified that the sur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... recoded U/s 132(4) of the Act and found that in the statement dated 08.11.2012 in reply to question No. 7 the assessee admitted the undisclosed income of ₹ 14,57,28,753/- on the basis of figures written in column B of excel sheet. However, in the same question he clarified that after reconciliation of figure written in the excel sheet with the help of his accountant Shri Banwari lal Yogi who prepared this sheet, the surrendered amount may be increase or decrease from ₹ 14,57,28,583/-. Therefore, from the statements of the assessee it is very much clear that the surrender was tentative and subject to reconciliation. However, the assessee has honored the surrendered amount in the return, therefore, there remains no dispute over this issue. We also found that alongwith reply dated 09.03.2015, the assessee submitted a sheet to the AO wherein the reconciliation of total amount recorded in books of accounts as against amounts mentioned in the excel sheet was worked out and unrecorded payments of ₹ 13,31,37,408/- was worked out on the basis of excel sheet and other documents/evidences found as a result of search was submitted and the AO did not point out any defects in s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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