9911796707
TMI Blog2020 (2) TMI 940X X X X Extracts X X X X X X X X Extracts X X X X ..... he roots for assessment lie in the search and seizure action u/s 132 of the Income-tax Act, 1961 [hereinafter referred to as 'The Act'] conducted on Pasco Group of cases on 17.02.2012. Accordingly, notice u/s 153A of the Act was issued and served upon the assessee. 3. During the course of scrutiny assessment proceedings, the Assessing Officer made some enquiries/queries and completed assessment by making addition on account of bogus expenses of rebate /discounts/incentives, inflated claim of transportation expenses, bogus expenses on new vehicles, travelling expenses, personal expenses and disallowance u/s 14A of the Act. In all the years under consideration before us, additions were made under the heads mentioned hereinabove, thou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Assessing Officer came to know that the cheques which were issued by the assessee were bearer cheques, which fact was subsequently confirmed by respective banks. The ld. DR continued by saying that the entries were incriminating and therefore, the ratio laid down by the Hon'ble High Court of Delhi [supra] do not apply on the facts of the cases in hand. 7. We have given thoughtful consideration to the orders of the authorities below. The undisputed fact is that the entire additions have been framed on the books of account of the assessee. In fact, the Assessing Officer, in his assessment order, proceeded by observing "From the examination of books of account of the assessee, it is observed that the assessee has claimed business expens ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... additions have been made are identical in all the Assessment Years under appeal. However, in ITA No. 4288/DEL/2016 for Assessment Year 2008-09, there is one addition in respect of cash found to be deposited in the books of account as under: Sr. No. Particulars Transaction Date Transaction Amount Transaction Bank Involved Division 1 CASH DEPOSITED 04.04.2008 101134.00 Punjab & Sind (A/c CC-71) KUNDLI 2 CASH DEPOSITED 22.09.2008 362000.00 Punjab & Sind (A/c CC-71) KUNDLI 3 CASH DEPOSITED 04.04.2008 450000.00 Punjab & Sind (A/c CC-71) KUNDLI 4 CASH DEPOSITED 25.06.2008 200000.00 Punjab & Sind (A/c CC-71) KUNDLI 5 CASH DEPOSITED 21.11.2007 120000.00 Punjab & Sind (A/c CC-71) KUN ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vious year relevant to the AY in which the search takes place. ii. Assessments and reassessments pending on the date of the search shall abate. The total income for such AYs will have to be computed by the AOs as a fresh exercise. iii. The AO will exercise normal assessment powers in respect of the six years previous to the relevant AY in which the search takes place. The AO has the power to assess and reassess the 'total income' of the aforementioned six years in separate assessment orders for each of the six years. In other words there will be only one assessment order in respect of each of the six AYs "in which both the disclosed and the undisclosed income would be brought to tax". iv. Although Section 153 A does not say th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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