9911796707
TMI Blog2022 (10) TMI 250X X X X Extracts X X X X X X X X Extracts X X X X ..... pugned order but no such documentary evidence brought on record before this Tribunal showing that the assessee received the alleged cash payment. We find the case of DR is that Shri Bapu Vithal Parande made statement that the cash payment to assessee withdrawing such amounts from the accounts of his family members but there was no statement recorded by the AO in this regard from such family members and also Shri Bapu Vithal Parande expressed inability such members for the examination. Thus, the evidence of cash payment by Shri Bapu Vithal Parande cannot be believed for the reason that there was no witnesses to the said cash payments and a mere statement by the said person that some of the amounts received from the accounts of others is n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lopment of plots. The assessee belongs to Netsurf group on which a search action was conducted on 07-05-2007. In response to notice u/s. 153A(a) of the Act, the assessee filed its return of income declaring a total income of Rs.10,35,325/-. The AO determined the total income of the assessee at Rs.33,35,910/- inter alia making addition on account of alleged cash receipts under the cancellation of agreement vide its order dated 31-12- 2009. The CIT(A) confirmed the same u/s. 143(3) r.w.s. 153A of the Act. Aggrieved by the same, the assessee is before us by raising above mentioned grounds of appeal. 5. Heard both the parties and perused the material available on record. We note that the assessee entered into an agreement on 25-05-2003 and a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l Parande amongst others his family members. The ld. AR submits that a statement u/s. 131 of the Act lacks evidentiary value and the statement made by Shri Bapu Vithal Parande and we note that there was no evidence brought on record showing that the assessee received cash payment to the tune of Rs.21 lakh in addition to consideration mentioned in the cancellation deed except to statement made by the said Shri Bapu Vithal Parande u/s. 131 of the Act. 6. The assessee contended that the addition made by the AO basing on statement recorded u/s. 131 of the Act without there being any documentary evidence to such statement. The CIT(A) sought remand report from the AO which is reproduced at Page No. 11 and 12 of the impugned order. On perusal o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee. The CIT(A) also affirmed the said observation at Para No. 6.13 of the impugned order but no such documentary evidence brought on record before this Tribunal showing that the assessee received the alleged cash payment. We find the case of ld. DR is that Shri Bapu Vithal Parande made statement that the cash payment to assessee withdrawing such amounts from the accounts of his family members but there was no statement recorded by the AO in this regard from such family members and also Shri Bapu Vithal Parande expressed inability such members for the examination. Thus, the evidence of cash payment by Shri Bapu Vithal Parande cannot be believed for the reason that there was no witnesses to the said cash payments and a mere statement by the s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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