9911796707
TMI Blog2023 (6) TMI 223X X X X Extracts X X X X X X X X Extracts X X X X ..... e, ground no.1 is dismissed. Cash seized during the course of search - onus to prove - HELD THAT:- AO has not doubted the books of accounts which was produced before the AO on 18.12.2013 during the course of assessment proceedings. On the contrary, in paragraph no.6 the observations are related to the evidence regarding books of accounts maintained on date of search was taken into account. At no point of time AO has doubted the books of accounts produced during the assessment proceedings and, therefore, the observation made by the AO in conclusion is not justifiable. Assessee has furnished the name address and PAN of the persons from whom assessee firm has transported the cash for which income has been shown by the assessee and, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y grant considering the facts of the case. 3. The return of income was filed on 13.07.2013 declaring total income at Rs. Nil. The said return was processed under Section 143(1) of the Income Tax Act, 1961. Subsequently, it was observed that the cash amount of Rs.6,00,000/- was recovered by Lucknow Police from Shri Nitinkumar Ramjibhai Patel, employee of the assessee which was seized by the Income Tax Department on 19.10.2012 under Section 132A of the Act. During the course of search, a statement on oath was recorded of Shri Nitin Patel and it was stated that he is the employee of the Company M/s. Patel Mukeshbhai Narandas Co. and cash found as well as seized belonged to his employer. The books of account were not produced during the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ddition of Rs.6,00,000/- towards undisclosed income on the basis that no evidence that books of accounts was maintained on the date of search and the same was not produced by the assessee. 4. Being aggrieved by the assessment order, the assessee filed appeal before the CIT(A). The CIT(A) dismissed the appeal of the assessee. 5. The Ld. AR submitted that notice under Section 143(2) of the Act was not issued by the Assessing Officer and, therefore, the assessment itself is null void. 6. The Ld. DR submitted that the assessee has participated in the assessment proceedings under Section 148 143(3) read with Section 147 of the Act and, therefore, as per Section 292BB of the Act, the assessment order passed by the Assessing Officer i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IT(A). 10. Heard both the parties and perused all the relevant material available on record. From the perusal of paragraph no.5 of the Assessment Order, the Assessing Officer has not doubted the books of accounts which was produced before the Assessing Officer on 18.12.2013 during the course of assessment proceedings. On the contrary, in paragraph no.6 the observations are related to the evidence regarding books of accounts maintained on date of search was taken into account. At no point of time the Assessing Officer has doubted the books of accounts produced during the assessment proceedings and, therefore, the observation made by the Assessing Officer in conclusion is not justifiable. Further, the assessee has furnished the name addres ..... X X X X Extracts X X X X X X X X Extracts X X X X
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