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TMI Blog2022 (10) TMI 489X X X X Extracts X X X X X X X X Extracts X X X X ..... For the Assessee : Shri Mukul Gupta, C.A. For the Revenue : Ms. Sarita Kumari, CIT-D.R. ORDER PER ANIL CHATURVEDI, AM: These five appeals filed by the Revenue are directed against the order dated 11.09.2019 (for A.Y. 2009-10), 12.09.2019 (for A.Ys. 2010-11 2011-12), 20.09.2019 (for A.Ys. 2012-13 2013-14) passed by the Commissioner of Income Tax (Appeals)- XXV, New Delhi. 2. Before us, at the outset, Learned DR submitted that though the appeals by the Revenue are for 5 different years but the issue involved in all the appeals are similar and therefore, the submissions made by her while arguing appeal for one year would be applicable to other years also. Learned AR did not controvert the aforesaid submissions made by Learned DR and submitted that the submissions made by him while arguing one appeal would be applicable to other appeals also. 3. In view of the aforesaid submissions of both the parties and in view of the admitted position that the issue in all five appeals are common, we therefore, have clubbed all of them together for the sake of brevity and convenience. However, we are taking ITA No.9454/Del/2019 as a lead case and referring it to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tter dated 23.12.2016 stated that return of income filed by her for A.Y. 2012-13 on 04.09.2012 declaring total income of Rs.44,35,890/- be treated as return of income filed u/s 153A of the Act. Thereafter, case was taken up for scrutiny and consequently, assessment was framed u/s 153A r.w.s 143(3) of the Act vide order dated 30.12.2016 and the total income of the assessee was determined at Rs.21,52,69,900/-. 9. As far as A.Y. 2013-14 is concerned, in response to the notice dated 22.12.2016 issued u/s 153A of the Act, assessee vide letter dated 23.12.2016 stated that return of income filed by her for A.Y. 2013-14 on 10.07.2013 declaring total income of Rs.46,59,180/- be treated as return of income filed u/s 153A of the Act. Thereafter, case was taken up for scrutiny and consequently, assessment was framed u/s 153A r.w.s 143(3) of the Act vide order dated 30.12.2016 and the total income of the assessee was determined at Rs.23,91,86,934/-. 10. Aggrieved by the order of AO, assessee carried the matter before CIT(A) who vide order dated 11.09.2019 in Appeal No.10342/16-17 granted substantial relief to the assessee. Aggrieved by the order of CIT(A), Revenue is now in appeal and has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ewellery and sale of shares holding that the assessee did not provide any documentary evidence which could prove that the assessee had purchased the same on any given date. (ii) Whether on the facts and in the circumstances of the case, the Ld CIT(A) was right in deleting the addition made by the AO u/s 68 of the Act on account of unexplained unsecured loan holding that in number of cases, the notices returned un-served by the postal department, reflecting the non-existence of the entities and reflected doubt on the identity of the creditors itself. (iii) Whether on the facts and in the circumstances of the case, the Ld CIT(A) was right in deleting the addition made by the AO u/s 69 on account of unverified loans and advances given by the assessee holding that in number of cases, the notices returned unserved by the postal department, reflecting the non-existence of the entities and reflected doubt on the identity of the creditors consideration. (iv) Whether on the facts and in the circumstances of the case, the Ld CIT(A) was right in deleting the disallowance made by the AO u/s 54F on account of out of long term capital gain on sales of shares holding that the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the same on any given date. (ii) Whether on the facts and in the circumstances of the case, the Ld CIT(A) was right in deleting the addition made by the AO u/s 68 of the Act on account of unexplained unsecured loan holding that in number of cases, the notices returned un-served by the postal department, reflecting the non-existence of the entities and reflected doubt on the identity of the creditors itself. (iii) Whether on the facts and in the circumstances of the case, the Ld CIT(A) was right in deleting the addition made by the AO u/s 69 on account of unverified loans and advance given by the assessee holding that in number of cases, the notices returned unserved by the postal department, reflecting the non-existence of the entities and reflected doubt on the identity of the creditors itself. (iv) The appellant craves to be allowed to add and alter any fresh ground(s) of appeal and / or delete or amend any of the ground(s) of appeal. 11. Before us, Learned DR pointed to the assessment order and submitted that assessee had claimed Long Term Capital Gain on sale of jewellery and sale of shares. While computing the Long Term Capital Gain, AO noticed that asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er, he has given a finding that no incriminating material was found during the course of search on the basis of which the indexation could have been disallowed to the assessee. As far as the addition of Rs.3,08,09,500/- u/s 68 of the Act is concerned, he after perusing the copy of the Panchnama has given a finding that no incriminating material was found on the basis of which any adverse inference had been drawn by the AO in respect of the unsecured loans. He, therefore, held that since on the date of search, pending proceedings and assessment relating to A.Y. 2009-10 had not abated and was final assessment, therefore, additions could not have been made by AO. He, thus deleted the additions made by AO. 14. Aggrieved by the order of CIT(A), Revenue is now before us. 15. Before us, Learned DR took us through the findings of AO and submitted that during the assessment proceedings, assessee did not furnish the required details called for by the AO and, therefore, AO was fully justified in making the additions. As far as the findings of CIT(A) that no incriminating material was found during the course of search, she submitted that the material found during the course of search has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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