9911796707
TMI Blog2024 (5) TMI 320X X X X Extracts X X X X X X X X Extracts X X X X ..... s indeed the owner of alleged foreign bank account in HSBC Bank, Geneva. Therefore, the orders of Ld. AO/CIT(A) do not have any legs to stand. Accordingly, the orders of Ld. AO/CIT(A) made by them in the second round of proceedings are hereby quashed as a consequence. Appeal of the assessee is allowed. - SHRI G.S. PANNU, HON BLE VICE PRESIDENT AND MS. ASTHA CHANDRA, JUDICIAL MEMBER For the Assessee : Shri Rohit Jain, Advocate, Ms. Deepashree Rao, Advocate, Shri Shivam Gupta, Advocate For the Department : Shri Dharamvir Singh, CIT-DR ORDER PER ASTHA CHANDRA, JM: The appeal filed by the assessee is directed against the order dated 11.01.2022 of the Ld. Commissioner of Income Tax (Appeals)-30, New Delhi ( CIT(A) ) pertaining to Assessment ye ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding that the purported information received from the French Authorities under the Double Taxation Avoidance Convention (DTAC) was verified and authentic, without appreciating that the French Authorities had no locus standi in the matter and the alleged information, if any, could not have been shared in terms of Article 26 of the India-France DTAC. 1.5. That the CIT(A) erred in confirming the addition made by the assessing officer, despite categorically acknowledging the fact that authentic information from Swiss Authorities was, as a matter of fact, never received and reliance was being placed merely on photocopies of certain documents, which, too, remained unverified/unauthenticated till date. 1.6. That the CIT(A) erred in not appreciatin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uthorities, not appreciating that the same does not constitute evidence in the eyes of law. 2.2. That the CIT(A) failed to appreciate that (a) the assessing officer erroneously treated some loose unauthentic sheets as bank statement of a foreign bank account; (b) the above alleged foreign bank account did not belong to the appellant; (c) none of the deposits, as alleged, related to the appellant; and (d) no transaction was made by the appellant, and the above addition made in the hands of the appellant is without any evidence or basis. 3. This is the second round of the quantum proceedings. 4. Briefly stated, in the first round, the assessment for AY 2006-07 was completed on 27.02.2015 on total income of Rs. 76,13,144/- under section 153A/1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... order passed by the Ld. AO on 27.02.2015. This was challenged before the Ld. CIT(A) but without success. This has brought the assessee again in the second round before the Tribunal. 6. We have heard the Ld. Representative of the parties and perused the records. As stated earlier, against the order dated 10.04.2017 of the Tribunal in first round in ITA No. 5448/Del/2016 the assessee had filed appeal before the Hon ble Delhi High Court who quashed the said Tribunal s order vide order dated 13.12.2023 observing as under:- 15.1 The absence of incriminating material has persuaded us to take this view. As indicated hereinabove, no incriminating material, even according to the respondent/revenue, was found during the search 15.2 Furthermore, the m ..... X X X X Extracts X X X X X X X X Extracts X X X X
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