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Facts
A search and seizure operation was conducted on the assessee and his partner, leading to the discovery of incriminating documents and seizure of Rs. 4 crores cash. The Assessing Officer made additions for undisclosed commission income from Hawala business and unexplained cash fund under Section 69A for AYs 2016-17 to 2018-19. The CIT(A) upheld these additions.
Held
The Income Tax Appellate Tribunal (ITAT) condoned the delay in filing the appeals and admitted them for hearing. The provided judgment text, however, concludes before stating the ITAT's final decision on the merits of the additions made by the Assessing Officer and upheld by the CIT(A).
Key Issues
The key legal issues involve the validity of additions made by the Assessing Officer for undisclosed commission income from Hawala business and unexplained cash fund, based on search and seizure operations and statements recorded under Section 132(4).
Sections Cited
Section 144, Section 153A, Section 143(2), Section 132, Section 69A
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, JAIPUR BENCHES,”B-BENCH” JAIPUR
Before: SHRI RATHOD KAMLESH JAYANTBHAI, AM& SHRI NARINDER KUMAR, JM vk;dj vihy la-@ITA No. 379 to 381/JPR/2024
Result
As a result, appeals- are allowed and the impugned orders passed by Learned CIT(A) upholding the assessment orders for the assessment years 2016-17 and 2017-18 are hereby set aside.
Appeal-ITA No.381/JPR/2024 is partly allowed in the manner indicated above, and the impugned order passed by Learned CIT(A) and the assessment order are modified accordingly.
to 381/JPR/2024 Fazle Raoof Sheikh vs. DCIT Copy of the common order be placed in the connected two appeal files. Files of appeal be consigned to the record room after the needful is done by the office.
Order pronounced in the open court on 25/10/2024.
Sd/- Sd/- ¼jkBkSM+ deys'k t;UrHkkbZ ½ ¼ujsUnz dqekj½ (RATHOD KAMLESH JAYANTBHAI) (NARINDER KUMAR) ys[kk lnL; @Accountant Member U;kf;d lnL;@Judicial Member Tk;iqj@Jaipur fnukad@Dated:- 25/10/2024 *Santosh आदेश की प्रतिलिपिअग्रेf’ात@ब्वचल वf जीम वतकमत वितूंतकमक जवरू The Appellant- Fazle Raoof Sheikh, Bhilwara. 1. 2. izR;FkhZ@ The Respondent- DCIT, Ajmer. 3. vk;djvk;qDr@ The ld CIT 4. विभागीय प्रतिनिधि] आयकरअपीलीय अधिकरण] जयपुर@क्त्ए प्ज्Aज्ए Jंपचनत 5. xkMZQkbZy@ Guard File to 381/JPR/2024) vkns'kkuqlkj@ By order,
सहायक पंजीकार@Aेेजज. त्महपेजतंत