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TMI Blog2021 (4) TMI 490X X X X Extracts X X X X X X X X Extracts X X X X ..... (A) erred in allowing relief of Rs. 78,09,410/- without appreciating that the assessee had not given any evidence to explain the sources for the investment made in Anekal land and therefore it is requested that the Hon'ble Tribunal may kindly set aside this issue to the file of the Assessing Officer for verification of the above. 2. Whether on the facts and circumstances of the case, the Ld. CIT(A) erred in allowing relief of Rs. 1 Crore without appreciating that the assessee had not given any evidence to explain the sources for the investment made in Development of Anekal land and therefore it is requested that the Hon'ble Tribunal may kindly set aside this issue to the file of the Assessing Officer for verification of the above. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,58,75,000/- without appreciating that the assessee had not given the correct address and existence of Shri Christudass for verification and therefore it is requested that the Hon'ble Tribunal may kindly set aside this issue to the file of the Assessing Officer for verification of the above. 4. Whether on the facts and circumstances of the case, the Ld. CIT(A) erred in allowing relief of Rs. 5,20,000/- without verification from the bank authorities regarding the withdrawal of Rs. 9 lakhs on a day prior to search dates and therefore it is requested that the Hon'ble Tribunal may kindly set aside this issue to the file of the Assessing Officer for verification of the above." 2. First we take up the facts for the assessment year 2006 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was also explained that the total investment made by the assessee towards development of the said land was Rs. 28,93,250/- and the, total expenditure incurred towards the said property was shown at Rs. 1,91,33,169/-. The Assessing Officer vide his order dated 31.12.2009 u/s. 143(3) r.w.s. 153A of the Act has held that the explanation of the assessee was not acceptable and, therefore, added Rs. 78,09,410/- u/s. 69B of the Act. With regard to the investment of Rs. 1.00 crore by the assessee for development of Anekal land, the Assessing Officer did not accept the explanation and treated the same as income without any basis. Further, the assessee had borrowed loan of Rs. 83 lakhs from one Sri Suresh Babu. The same was also added on the surmise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s interest on borrowed capital which was sought to be set off against the remuneration from M/s. Soundarya Silk Process. The Assessing Officer without any justification, disallowed these interest payments by invoking Section 14A. Further, the assessee had declared remuneration of Rs. 17,688/- from M/s. Soundarya Silk Process. The Assessing Officer without any justification or any material with him to the contrary, made an addition of Rs. 1.00 lakh alleging that the same was admitted during the course of search that took place on 28.12.2007. Further, the assessee had also claimed interest payment of Rs. 25,541/- on the borrowed capital which was sought to be set off against the remuneration. The Assessing Officer again by invoking Section 14 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... We have heard the rival submissions, perused the materials available on record and gone through the orders of the authorities below. Ld. D.R. submitted that in these assessment years, assessee has filed the additional evidences along with written submissions before Ld. CIT(A) on 23.3.2013. The same were forwarded to the A.O. by Ld. CIT(A). The A.O. submitted remand report on 21.10.2013. The assessee once again filed submissions before Ld. CIT(A) on 16.1.2014. The Ld. CIT(A), on the basis of these submissions and additional evidences without confronting these submissions to the A.O. deleted the additions. By reading the Ld. CIT(A)'s order, we are not in a position to appreciate on what is the basis for deletion of the additions made by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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