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TMI Blog2021 (2) TMI 638X X X X Extracts X X X X X X X X Extracts X X X X ..... ed income assessed in the hands of the assessee on protective basis - documents seized during search in GTM Group and impounded during survey u/s 133A showing payments to the assessee - HELD THAT:- The amounts were held to be received from sale of flats. The matter has already been dealt in the case of GTM Builders Promoters Pvt. Ltd. [ 2021 (2) TMI 597 - ITAT DELHI] A.Y. 2006-07 under the head unaccounted income from sale of flats in Cooperative Societies vide para no. 30 to 32 wherein it was held that the addition was unwarranted. Revenue appeal dismissed. - ITA No. 3796/Del/2010 - - - Dated:- 10-2-2021 - Sh. Amit Shukla, Judicial Member And Dr. B. R. R. Kumar, Accountant Member For the Assessee : Sh. K. Sampath, Adv. For the Revenue : Ms. Sunita Singh, CIT DR ORDER PER DR. B. R. R. KUMAR, ACCOUNTANT MEMBER: The present appeal has been filed by the revenue against the order of ld. CIT(A)-1, New Delhi dated 28.05.2010. 2. Following grounds have been raised by the revenue: 1. The order of the Ld. CIT (A) is not correct in law and facts. 2. In the facts and circumstances of the case, Learned CIT(A) has erred in law and on facts in del ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /- - ₹ 20,00,000 /-) was made to the income of the assessee as unexplained income. 4. Aggrieved the assessee filed appeal before the ld. CIT (A). 5. The ld. CIT (A) deleted the addition on the grounds that the entries have been duly explained. 6. Aggrieved with the order of the ld. CIT (A), the revenue filed appeal before us. 7. Heard the arguments of both the parties and perused the material available on record. 8. We have perused the documents and the explanation, the details of the bank entries are as under: S. No. Date Particulars Ch. No. Receipts Amount 1 01.04.2005 Tushar Malik ₹ 98 /- 2 07.04.2005 Director Remuneration ₹ 20,000 /- 3 07.05.2005 GTM Builders Promoters Pvt. Ltd. 196868 ₹ 18,000 /- 4 16.05.2005 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 20 10.10.2005 GTM Builders Promoters Pvt. Ltd. 227427 ₹ 34,650 /- 21 18.10.2005 The Seth Vihar CGHS Ltd. 404000 ₹ 3,00, 000 /- 22 19.10.2005 Tushar Malik 113008 ₹ 6,00, 000 /- 23 31.10.2005 Tushar Malik 228401 ₹ 23,830 /- 24 03.11.2005 Gautam Kumar 751416 ₹ 8,00, 000 /- 25 03.11.2005 Tushar Malik 228404 ₹ 6,000 /- 26 05.11.2005 GTM Builders Promoters Pvt. Ltd. 228417 ₹ 8,00, 000 / - 27 10.11.2005 GTM Builders Promoters Pvt. Ltd. 228424 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 398933 ₹ 2,00, 000 /- 3 06.01.2006 Cheque Returned 398944 ₹ 5,00, 000 / - 4 06.03.2006 Cheque Returned 400137 ₹ 5,000 /- 5 13.08.2005 Cheque Returned 246775 ₹ 500 /- Total (B) ₹ 13, 05, 500 /- Gross Total (A+ B) ₹ 76, 90, 039 /- 9. It was argued that the Assessing Officer has wrongly worked out the credit entries at ₹ 76, 90,039 /- in the bank statement instead of actual credit entries ₹ 63,84,539/- and according to the Assessing Officer the addition should have been (₹ 63,84,539 /- - ₹ 20,00,000/- = ₹ 43,84,539 /-). Whereas, the Ld. Assessing Officer has made the addition of ₹ 56,90,039 /- without looking ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 16.05.2005 Cash deposited ₹ 20,000 /- 5 30.05.2005 GTM Builders Promoter Pvt. Ltd. 205963 ₹ 18,000 /- 6 30.05.2005 GTM Builders Promoters Pvt. Ltd. 205964 ₹ 100,000 /- 7 23.06.2005 GTM Builders Promoters Pvt. Ltd. 205909 ₹ 2,00, 000 /- 8 25.06.2005 GTM Builders Promoters Pvt. Ltd. 205912 ₹ 32,400 /- 9 30.06.2005 Tushar Malik ₹ 9 /- 10 11.07.2005 Tushar Malik 205944 ₹ 20,000 /- 11 16.07.2005 GTM Builders Promoters Pvt. Ltd. 217781 1₹ 32,4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 228424 ₹ 34,650 /- 28 07.. Tushar Malik 228487 ₹ 50,167 /- 29 31.12.2005 Tushar Malik i ₹ 188 /- 30 05.01.2006 GTM Builders Promoters Pvt. Ltd. 228574 ₹ 2,00, 000 / - 31 12.01.2006 GTM Builders Promoters Pvt. Ltd. 228588 ₹ 43,330 /- 32 14.02.2006 GTM Builders Promoters Pvt. Ltd. 240335 ₹ 33,330 / - 33 15.02.2006 Tushar Malik 240357 ₹ 36,152 /- 34 28.02.2006 GTM Builders Promoters Pvt. Ltd. 240388 ₹ 33,330 / - 35 06.03.2 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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