2022 (6) TMI 1427

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..... . GODARA, JM : 1. These Revenue's and assessee's cross appeal for Assessment Year 2008-09 arise against the CIT(A) -2 Aurangabad's order dated 18.01.2016 passed in case No. THN/CIT(A)-2/359/2014-15 involving proceeding u/s 144 r.w.s.147 of the Income Tax Act, 1961 in short the "Act." Cases called twice. None appears at assessee's behest. It is accordingly proceeded ex-parte. 2. Coming to the R .....

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..... adding the alleged unaccounted cash component of Rs. 5,94,96,000/- in issue. The Revenue vehemently argued that both the learned authorities have gone by the seized material annexure O-2(extracted in page 12 in assessment order dated 24.03.2014) clearly indicating cash "paid to Jai Ganesh Co-operative ... members". It further invokes the necessary presumption of correctness given to the such seize .....

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