SUBHASH KHATTAR,NEW DELHI vs. ACIT, NEW DELHI

ITA 902/DEL/2015Status: DisposedITAT Delhi30 June 2016AY 2006-0711 pages
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What did the Tribunal hold?

The Tribunal held that a significant addition cannot be made solely on the basis of a hard disc found at a third party's premises without corroborative evidence. Furthermore, the assessment under Section 153A was invalid as no incriminating material was found at the assessee's premises and no assessment was pending.

What were the facts?

A search at the premises of Aerens group revealed a hard disc containing details of property sales, including an entry for the assessee showing a cash component of Rs. 3,21,00,000. The Assessing Officer made an addition based on this material, which was upheld by the CIT(Appeals).

What were the issues?

Whether the Assessing Officer had valid jurisdiction under Section 153A for the assessment, and whether the addition of Rs. 3,21,00,000 on account of unexplained cash investment was justified without corroborative evidence.

Which sections of the Income-tax Act were involved?

Section 153A,Section 153C,Section 69

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Income Tax Appellate Tribunal, DELHI BENCH “G” NEW DELHI

Before: SHRI I.C. SUDHIR & SHRI O.P. KANT

For Appellant: Shri U.K. Shukla, Adv
For Respondent: Shri B.K. Singh, CIT( DR)

PER I.C. SUDHIR: JUDICIAL MEMBER The assessee has questioned first appellate order on several grounds mainly involving the issues; (i) as to whether Learned CIT(Appeals) was justified in upholding the validity of juri iction of the Assessing Officer assumed under sec. 153A and (ii) the addition of Rs.3,21,000 made on account of unexplained source of investment in cash in a project on the basis of material found during the search at the premises of Aerens group.

2.

Heard and considered the arguments advanced by the parties in view of orders of the authorities below, material available on record and the decisions relied upon.

2

3.

The relevant facts are that search & seizure operation was conducted on 17.8.2011 in Aerens group of cases and similar operation was a

The order continues below.

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