9911796707
TMI Blog2021 (12) TMI 1134X X X X Extracts X X X X X X X X Extracts X X X X ..... are technical grounds and 4 & 5 are the grounds on merits regarding the addition of Rs. 10 lakhs. 3. Briefly the facts of the case are that a search and seizure operation was conducted u/s 132 of the IT Act, on 09/11/2017 in the case of M/s Goldstone Infratech Ltd and its other associated companies on 09/11/2017 and the assessee was one of the persons whose premise was covered u/s 132 of the Act. Accordingly, notices u/s 153A was issued to the assessee on 21/03/2018 and in response, assessee filed his return of income on 06/04/2018 declaring an income of Rs. 33,71,860/-. Subsequently, the other notices were issued to the assessee calling for information with detailed questionnaire. 3.1 On perusal/verification of various detailed submitted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the AO upheld the action of the AO without referring any incriminating material found in the search & seizure operation. 6. Aggrieved by the order of the CIT(A), the assessee is in appeal before the ITAT. 7. Before us, the ld. AR of the assessee submitted that the assessee had received money from his employer, which was shown in the bank statement of the employer that the money was transferred to the assessee and to this effect, he submitted confirmation letters that the money was given to the assessee and there was opening balance which was to be recovered from the assessee by M/s Trinity Infraventures Ltd. He also submitted that there was no incriminating material found during the course of search, which can relied for making additio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the instant case, assessment was framed u/s 153A and it is an unabated assessment and no assessments were pending on the date of search initiated upon the assessee. While perusing the assessment order, we find that nowhere the AO has referred any incriminating material found during the course of search relating to the receipt of Rs. 10 lakhs by the assessee and, therefore, it clearly shows that no incriminating material found during the course of search conducted u/s 132 of the Act on 09/11/2017 in respect of receipt of Rs. 10 lakhs. As held by the Hon'ble High Court of Delhi in the case of Kabul Chawla, [2015] 61 taxmann.com 412 that if no incriminating material found during the course of search for making addition in the unabated assessme ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
