D.N. Kamani (HUF) v. DCIT

70 ITD 77Income Tax Appellate Tribunal1999#3538 most cited

What is D.N. Kamani (HUF) v. DCIT authority for?

An Assessing Officer cannot review a position already accepted in a prior assessment order if no material evidence is found during a search, especially when completing an assessment under Chapter XIV-B.

34

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2026.

Also referred to as

D.N. Kamani (HUF) · 143(3) · Chapter XIV-B · search assessment · review of accepted accounts · no material evidence

Sections most often in play

Section 133ASection 147Section 132Section 142(1)Section 143(2)Section 148Section 132(4)Section 143(3)

Issues it is cited on

section 181section 23(3)section 114(e)percentage completion methodsection 80ib(10)circle ratesection 145(2)on-moneysection 131(1a)project completion methodsection 40a(ia)on money receipt

Judgments citing D.N. Kamani (HUF) v. DCIT

SIX TWENTY REALTY PVT LTD,RAJOT vs. DCIT, CC-1, RAJKOT, RAJKOT

ITA 787/RJT/2024[2020-21]Status: DisposedITAT Rajkot11 Mar 2026AY 2020-21
Section 133ASection 143(3)Section 147Section 148Section 250

…on-money\nis not sustainable. The principle of extrapolation of 'on-money' on the other shops\nsold/booked during the period relevant to assessment year under appeal is rejected in\nthe absence of any material on record.\n\n• In the case of D. N. Kamani HUF (70 ITD 77) Hon'ble ITAT Patna Bench held that\ndocuments regarding receipt of on-money by assesses having been found in respect\nof sale of flats to one party, addition could not be made in respect of all the parties\nto whom assessee sold flats merely on the basis of presumption.\n\n• In the case of Fort Projects Pvt. Ltd (63 DTR 145) Hon'ble ITAT Kolkata B…

SIX TWENTY REALTY PVT. LTD.,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

ITA 786/RJT/2024[2019-20]Status: DisposedITAT Rajkot11 Mar 2026AY 2019-20
Section 133ASection 143(3)Section 147Section 148Section 250

…on-money\nis not sustainable. The principle of extrapolation of 'on-money' on the other shops\nsold/booked during the period relevant to assessment year under appeal is rejected in\nthe absence of any material on record.\n\n•\nIn the case of D. N. Kamani HUF (70 ITD 77) Hon'ble ITAT Patna Bench held that\ndocuments regarding receipt of on-money by assesses having been found in respect\nof sale of flats to one party, addition could not be made in respect of all the parties\nto whom assessee sold flats merely on the basis of presumption.\n\n•\nIn the case of Fort Projects Pvt. Ltd (63 DTR 145) Hon'ble ITAT Kolkata…

SIX TWENTY REALTY PVT. LTD.,RAJKOT vs. DCIT, CC-1, RAJKOT, RAJKOT

ITA 785/RJT/2024[2018-19]Status: DisposedITAT Rajkot11 Mar 2026AY 2018-19

Bench: Dr. Arjun Lal Saini & Dr. Dinesh Mohan Sinha

For Appellant: Shri Mehul Ranpura, Ld.ARFor Respondent: Shri Sanjay Punglia, Ld. CIT(DR)
Section 133ASection 143(3)Section 147Section 148Section 250

…nt of on-money is not sustainable. The principle of extrapolation of 'on-money' on the other shops sold/booked during the period relevant to assessment year under appeal is rejected in the absence of any material on record.  In the case of D. N. Kamani HUF (70 ITD 77) Hon'ble ITAT Patna Bench held that documents regarding receipt of on-money by assesses having been found in respect of sale of flats to one party, addition could not be made in respect of all the parties to whom assessee sold flats merely on the basis of presumption.  In the case of Fort Projects Pvt. Ltd (63 DTR 145) Hon'ble ITAT Kolkata Bench h…

DCIT, CENTRAL CIRCLE-1, RAJKOT, RAJKOT vs. SIX TWENTY REALTY PRIVATE LIMITED, RAJKOT

ITA 765/RJT/2024[2019-20]Status: DisposedITAT Rajkot11 Mar 2026AY 2019-20
Section 133ASection 143(3)Section 147Section 148Section 250

…on-money\nis not sustainable. The principle of extrapolation of 'on-money' on the other shops\nsold/booked during the period relevant to assessment year under appeal is rejected in\nthe absence of any material on record.\n\n• In the case of D. N. Kamani HUF (70 ITD 77) Hon'ble ITAT Patna Bench held that\ndocuments regarding receipt of on-money by assesses having been found in respect\nof sale of flats to one party, addition could not be made in respect of all the parties\nto whom assessee sold flats merely on the basis of presumption.\n\n• In the case of Fort Projects Pvt. Ltd (63 DTR 145) Hon'ble ITAT Kolkata B…

ACIT CENTRAL CIRCLE 1(4) MUMBAI, MUMBAI vs. KALYANEE FORTUNE CONSTRUCTIONS, MUMBAI

In the result, all the above appeals in ITA Nos

ITA 5779/MUM/2024[2019-20]Status: DisposedITAT Mumbai23 Dec 2025AY 2019-20

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Neelkanth Khandelwal, ARFor Respondent: Ms. Kavitha Kaushik, (Sr. DR)
Section 131Section 132(1)Section 133ASection 143(3)

…he issue of extrapolating the same did not arise. He placed reliance on several case laws involving identical issue decided in favour of the assesses i.e. K. Raheja Corporate Services Pvt. Ltd. (ITA Nos.2521 to 2527/MUM/2021), D.N. Kamani (HUF) v. DCIT [1999] 70 ITD 77 (PAT.) (TM) etc. and deleted the addition. 5. Before us, in the course of hearing the ld.AR has placed reliance on the findings and decision by the ld.CIT(A) reiterating the same contentions. A summary of additions made in each of below assessment years is detailed as follows: AY Financial Income Total Income Demand as Addition Year declared in as…

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 1(4), MUMBAI vs. KALYANEE FORTUNE CONSTRUCTIONS, MUMBAI

In the result, all the above appeals in ITA Nos

ITA 4448/MUM/2024[2017-18]Status: DisposedITAT Mumbai23 Dec 2025AY 2017-18
Section 131Section 132(1)Section 133ASection 143(3)

…issue of extrapolating the same did not arise. He placed\nreliance on several case laws involving identical issue decided in favour of the\nassesses i.e. K. Raheja Corporate Services Pvt. Ltd. (ITA Nos.2521 to\n2527/MUM/2021), D.N. Kamani (HUF) v. DCIT [1999] 70 ITD 77 (PAT.)\n(TM) etc. and deleted the addition.\n5. Before us, in the course of hearing the ld.AR has placed reliance on\nthe findings and decision by the ld.CIT(A) reiterating the same contentions. A\nsummary of additions made in each of below assessment years is detailed as\nfollows:\nAY\nFinancial\nYear\nIncome\ndeclared in\nITR\nTotal Income\nper\n…

ASSISTANT COMMISSIONER OF INCOME TAX , MUMBAI vs. KALYANEE FORTUNE CONSTRUCTIONS, MUMBAI

In the result, all the above appeals in ITA Nos

ITA 4445/MUM/2024[2018-19]Status: DisposedITAT Mumbai23 Dec 2025AY 2018-19

Bench: Shri Narender Kumar Choudhry & Shri Prabhash Shankar

For Appellant: Shri Neelkanth Khandelwal, ARFor Respondent: Ms. Kavitha Kaushik, (Sr. DR)
Section 131Section 132(1)Section 133ASection 143(3)

…he issue of extrapolating the same did not arise. He placed reliance on several case laws involving identical issue decided in favour of the assesses i.e. K. Raheja Corporate Services Pvt. Ltd. (ITA Nos.2521 to 2527/MUM/2021), D.N. Kamani (HUF) v. DCIT [1999] 70 ITD 77 (PAT.) (TM) etc. and deleted the addition. 5. Before us, in the course of hearing the ld.AR has placed reliance on the findings and decision by the ld.CIT(A) reiterating the same contentions. A summary of additions made in each of below assessment years is detailed as follows: AY Financial Income Total Income Demand as Addition Year declared in as…

ASSISTANT COMMISSIONER OF INCOME TAX CENTRAL CIRCLE 1 4 MUMBAI, MUMBAI vs. MS. KALYANEE FORTUNE CONSTRUCTIONS , MUMBAI

In the result, all the above appeals in ITA Nos

ITA 4444/MUM/2024[2020-21]Status: DisposedITAT Mumbai23 Dec 2025AY 2020-21
For Appellant: \nShri Neelkanth Khandelwal, ARFor Respondent: \nMs. Kavitha Kaushik, (Sr. DR)
Section 131Section 132(1)Section 133ASection 143(3)

…issue of extrapolating the same did not arise. He placed\nreliance on several case laws involving identical issue decided in favour of the\nassesses i.e. K. Raheja Corporate Services Pvt. Ltd. (ITA Nos.2521 to\n2527/MUM/2021), D.N. Kamani (HUF) v. DCIT [1999] 70 ITD 77 (PAT.)\n(TM) etc. and deleted the addition.\n5. Before us, in the course of hearing the ld.AR has placed reliance on\nthe findings and decision by the ld.CIT(A) reiterating the same contentions. A\nsummary of additions made in each of below assessment years is detailed as\nfollows:\nAY\nFinancial Income declared in as Total Income per Assessment or…

JCIT(OSD), CIRCLE -10(1), NEW DELHI vs. H B LEASING & FINANCE COMPANY LIMITED, DELHI

In the result, Appeal of the Revenue is dismissed

ITA 1245/DEL/2025[1988-89]Status: DisposedITAT Delhi07 Nov 2025AY 1988-89

Bench: Shri S. Rifaur Rahman & Shri Yogesh Kumar U.S.Joint Commissioner Of Vs H B Leasing & Finance Income Tax, (Osd), Company Ltd. Circle 10(1), C. R. Building, H-72, Connaught Circus, I. P. Estate, Delhi Connaught Place, Delhi Pan:Aaach0713N Appellant Respondent C.O No. 94/Del/2025 ( In Ita No. 1245/Del/2025 A.Y. 1988-89) H B Leasing & Finance Vs Joint Commissioner Of Income Company Ltd. Tax, Osd, H-72, Connaught Circus, Circle 10(1) Connaught Place, Delhi C. R. Building, I. P. Estate, Pan:Aaach0713N Delhi

Section 132Section 158BSection 245

…en clarified that no addition can be made on the basis of regular return filed before the search or before the due date while completing the assessment under Chapter XIV-B. 16. In the case of D.N. Kamani (HUF) vs. Dy. CIT (1999) 65 TTJ (Pat)(TM) 504 : (1999) 70 ITD 77 (Pat)(TM), it has been held "Moreover in the assessment completed under s. 143(3) for the asst. yr. 1992-93, the AO had already accepted the accounts relating to the said 15 flats and there being no material evidence found during the course of search; it was beyond the power of AO to review the position already accepted." 17. In the case of Dr. C.…

PROFESSIONAL AUTOMOTIVES PRIVATE LIMITED,JAMMU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, JAIPUR

In the result the appeal of the assessee in ITA no

ITA 812/JPR/2025[2016-17]Status: DisposedITAT Jaipur23 Jul 2025AY 2016-17

Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI, आयकर अपील /ITA Nos.809 to 815/JP/2025 निर्धारण वर्ष /Assessment Years :2013-14 to 2019-20 Professional Automotives Pvt. बनाम ACIT, Ltd. Bahu Plaza, Bahu Plaza, Jammu Vs. Central Circle- 1, and Kashmir Jaipur स्थायी लेखा सं./जी.आई.आर. सं./PAN/GIR No.:AAACP9608E अपीलार्थी/Appellant प्र]त्यर्थी/Respondent निर्धारिती की ओर से / Assessee by :Shri Tarun Mittal, CA राजस्व की ओर से /Revenue by: Shri Ajey Malik, CIT (Th. V.C)

For Appellant: Shri Tarun Mittal, CAFor Respondent: Shri Ajey Malik, CIT (Th. V.C)
Section 143(3)Section 37(1)

…se of CIT v. C. J. Shah & Co. (246 ITR 671) that estimation of undisclosed profit made by AO for the entire block period on the basis of seized loose papers which indicated undisclosed sales for three months was not justified. In the case of D. N. Kamani HUF (70 ITD 77) Hon’ble ITAT Patna Bench held that documents regarding receipt of on-money by assessees having been found in respect of sale of flats to one party, addition could not be made in respect of all the parties to whom assessee sold flats merely on the basis of presumption. In the case of Fort Projects Pvt. Ltd (63 DTR 145) Hon’ble ITAT Kolkata Bench he…

GANRAJ HOMES LLP ,PUNE vs. INCOME TAX, CENTRAL CIRCLE 2(3), PUNE , PUNE

In the result, all the three appeals filed by the assessee are allowed

ITA 879/PUN/2024[2018-19]Status: DisposedITAT Pune07 Feb 2025AY 2018-19

Bench: Shri R. K. Panda & Ms. Astha Chandra

For Appellant: Shri Neelesh KhandelwalFor Respondent: S/Shri Amol Khairnar CIT-DR &
Section 132Section 133ASection 143(2)Section 153A

…rojects (P.) Ltd. vs. DCIT (2013) 29 taxmann.com 84 (Kolkata-Trib.) iv) ACIT vs. M/s. Layer Exports Pvt. Ltd. vide ITA No.2986/Mum/2011 v) DCIT vs. Royal Marwar Tobacco Product (P.) Ltd. (2009) 29 SOT 53 (Ahmedabad) (URO) vi) D.N. Kamani (HUF) vs. DCIT (1999) 70 ITD 77 (PAT.) (TM) vii) Samrat Beer Bar vs. ACIT (2000) 75 ITD 19 (Pune) (TM) 22. Referring to the decision of the Chandigarh Bench of the Tribunal in the case of Gurdip Cycle Industries vs. DCIT (2024) 165 taxmann.com 299, he submitted that in cases where addition is proposed to be made on account of Whats App messages retrieved from the employees of the…

GANRAJ HOMES LLP,PUNE vs. INCOME TAX, CENTRAL CIRCLE 2(3), PUNE , PUNE

In the result, all the three appeals filed by the assessee are allowed

ITA 878/PUN/2024[2017-18]Status: DisposedITAT Pune07 Feb 2025AY 2017-18

Bench: Shri R. K. Panda & Ms. Astha Chandra

For Appellant: Shri Neelesh KhandelwalFor Respondent: S/Shri Amol Khairnar CIT-DR &
Section 132Section 133ASection 143(2)Section 153A

…rojects (P.) Ltd. vs. DCIT (2013) 29 taxmann.com 84 (Kolkata-Trib.) iv) ACIT vs. M/s. Layer Exports Pvt. Ltd. vide ITA No.2986/Mum/2011 v) DCIT vs. Royal Marwar Tobacco Product (P.) Ltd. (2009) 29 SOT 53 (Ahmedabad) (URO) vi) D.N. Kamani (HUF) vs. DCIT (1999) 70 ITD 77 (PAT.) (TM) vii) Samrat Beer Bar vs. ACIT (2000) 75 ITD 19 (Pune) (TM) 22. Referring to the decision of the Chandigarh Bench of the Tribunal in the case of Gurdip Cycle Industries vs. DCIT (2024) 165 taxmann.com 299, he submitted that in cases where addition is proposed to be made on account of Whats App messages retrieved from the employees of the…

SHREE BALAJI REALTY ,PUNE vs. INCOME TAX, CENTRAL CIRCLE 2(3), PUNE , PUNE

In the result, appeals for

ITA 877/PUN/2024[2019-2020]Status: DisposedITAT Pune07 Feb 2025AY 2019-2020

Bench: Shri R. K. Panda & Ms. Astha Chandra

Section 132Section 143(2)Section 153A

…Projects (P.) Ltd. vs DCIT (2013) 29 taxmann.com 84 (Kolkata Trib.) iv) ACIT vs. M/s. Layer Exports Pvt. Ltd. vide ITA No.2986/Mum/2011 v) DCIT vs. Royal Marwar Tobacco Product (P.) Ltd. (2009) 29 SOT 53 (Ahmedabad) (URO) vi) D.N. Kamani (HUF) vs. DCIT (1999) 70 ITD 77 (Pat.) (TM) vii) Samrat Beer Bar vs. ACIT (2000) 75 ITD 19 (Pune)(TM) 27. Referring to the following decisions, the Ld. Counsel for the assessee submitted that addition of the alleged on-money being accepted by the assessee should be restricted to the profit element embedded in the alleged on-money received by the assessee: i) CIT vs. President Ind…

SHREE BALAJI REALTY ,PUNE vs. INCOME TAX, CENTRAL CIRCLE 2(3), PUNE , PUNE

In the result, appeals for

ITA 876/PUN/2024[2018-19]Status: DisposedITAT Pune07 Feb 2025AY 2018-19

Bench: Shri R. K. Panda & Ms. Astha Chandra

Section 132Section 143(2)Section 153A

…Projects (P.) Ltd. vs DCIT (2013) 29 taxmann.com 84 (Kolkata Trib.) iv) ACIT vs. M/s. Layer Exports Pvt. Ltd. vide ITA No.2986/Mum/2011 v) DCIT vs. Royal Marwar Tobacco Product (P.) Ltd. (2009) 29 SOT 53 (Ahmedabad) (URO) vi) D.N. Kamani (HUF) vs. DCIT (1999) 70 ITD 77 (Pat.) (TM) vii) Samrat Beer Bar vs. ACIT (2000) 75 ITD 19 (Pune)(TM) 27. Referring to the following decisions, the Ld. Counsel for the assessee submitted that addition of the alleged on-money being accepted by the assessee should be restricted to the profit element embedded in the alleged on-money received by the assessee: i) CIT vs. President Ind…

SHREE BALAJI REALTY,PUNE vs. INCOME TAX, CENTRAL CIRCLE 2(3), PUNE, PUNE

In the result, appeals for assessment years 2017-18 and 2018-19 are allowed and the appeal for assessment year 2019-20 is partly allowed

ITA 875/PUN/2024[2017-18]Status: DisposedITAT Pune07 Feb 2025AY 2017-18

Bench: Shri R. K. Panda & Ms. Astha Chandra

For Appellant: Shri Neelesh KhandelwalFor Respondent: S/Shri Amol Kharnar CIT-DR &
Section 132Section 143(2)Section 153A

…ojects (P.) Ltd. vs DCIT (2013) 29 taxmann.com 84 (Kolkata – Trib.) iv) ACIT vs. M/s. Layer Exports Pvt. Ltd. vide ITA No.2986/Mum/2011 v) DCIT vs. Royal Marwar Tobacco Product (P.) Ltd. (2009) 29 SOT 53 (Ahmedabad) (URO) vi) D.N. Kamani (HUF) vs. DCIT (1999) 70 ITD 77 (Pat.) (TM) vii) Samrat Beer Bar vs. ACIT (2000) 75 ITD 19 (Pune)(TM) 27. Referring to the following decisions, the Ld. Counsel for the assessee submitted that addition of the alleged on-money being accepted by the assessee should be restricted to the profit element embedded in the alleged on-money received by the assessee: i) CIT vs. President In…

GANRAJ HOMES LLP,PUNE vs. INCOME TAX, CENTRAL CIRCLE 2(3), PUNE , PUNE

In the result, all the three appeals filed by the assessee are allowed

ITA 874/PUN/2024[2019-20]Status: DisposedITAT Pune07 Feb 2025AY 2019-20

Bench: Shri R. K. Panda & Ms. Astha Chandra

For Appellant: Shri Neelesh KhandelwalFor Respondent: S/Shri Amol Khairnar CIT-DR &
Section 132Section 133ASection 143(2)Section 153A

…rojects (P.) Ltd. vs. DCIT (2013) 29 taxmann.com 84 (Kolkata-Trib.) iv) ACIT vs. M/s. Layer Exports Pvt. Ltd. vide ITA No.2986/Mum/2011 v) DCIT vs. Royal Marwar Tobacco Product (P.) Ltd. (2009) 29 SOT 53 (Ahmedabad) (URO) vi) D.N. Kamani (HUF) vs. DCIT (1999) 70 ITD 77 (PAT.) (TM) vii) Samrat Beer Bar vs. ACIT (2000) 75 ITD 19 (Pune) (TM) 22. Referring to the decision of the Chandigarh Bench of the Tribunal in the case of Gurdip Cycle Industries vs. DCIT (2024) 165 taxmann.com 299, he submitted that in cases where addition is proposed to be made on account of Whats App messages retrieved from the employees of the…

MEENAMANI GANGA BUILDER LLP,PUNE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 2(3), PUNE

In the result, all the three appeals filed by the assessee are partly allowed

ITA 872/PUN/2024[2018-19]Status: DisposedITAT Pune07 Feb 2025AY 2018-19

Bench: Shri R. K. Panda & Ms. Astha Chandra

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri Amol Kharnar CIT-DR
Section 132Section 143(2)Section 153A

…ojects (P.) Ltd. vs DCIT (2013) 29 taxmann.com 84 (Kolkata – Trib.) iv) ACIT vs. M/s. Layer Exports Pvt. Ltd. vide ITA No.2986/Mum/2011 v) DCIT vs. Royal Marwar Tobacco Product (P.) Ltd. (2009) 29 SOT 53 (Ahmedabad) (URO) vi) D.N. Kamani (HUF) vs. DCIT (1999) 70 ITD 77 (Pat.) (TM) vii) Samrat Beer Bar vs. ACIT (2000) 75 ITD 19 (Pune)(TM) 27. Referring to the following decisions, the Ld. Counsel for the assessee submitted that addition of the alleged on-money being accepted by the assessee should be restricted to the profit element embedded in the alleged on-money received by the assessee: i) CIT vs. President In…

ACIT, NEW DELHI vs. SH MAHAGUN INDIA PVT. LTD.,, DELHI

ITA 3662/DEL/2012[2006-07]Status: DisposedITAT Delhi10 Sept 2024AY 2006-07

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri Subhra Jyoti Chakraborty, CIT-DR
Section 132Section 133ASection 142Section 153ASection 40

…of "on money" by appellant having been found in respect of sale of flats to one party, addition could not be made in respect of all the parties to whom appellant sold flats merely on the basis of presumption as held in D.N.K. Kamani (HUF) v/s. Dy. CIT (1999) 70 ITD 77 TM (Pat.). In my considered opinion, the Special Auditor is not justified in deciphering the figures on the basis of seized documents based on unfounded presumptions and conjunctures without bringing any corroborative material evidence in support thereof, as held in the case of Atul Kumar Jain - Vs - DCIT, 64 TTJ 786 (Delhi) due to following reason…

ACIT, NEW DELHI vs. SH MAHAGUN INDIA PVT. LTD.,, DELHI

ITA 3661/DEL/2012[2005-06]Status: DisposedITAT Delhi10 Sept 2024AY 2005-06

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri Subhra Jyoti Chakraborty, CIT-DR
Section 132Section 133ASection 142Section 153ASection 40

…of "on money" by appellant having been found in respect of sale of flats to one party, addition could not be made in respect of all the parties to whom appellant sold flats merely on the basis of presumption as held in D.N.K. Kamani (HUF) v/s. Dy. CIT (1999) 70 ITD 77 TM (Pat.). In my considered opinion, the Special Auditor is not justified in deciphering the figures on the basis of seized documents based on unfounded presumptions and conjunctures without bringing any corroborative material evidence in support thereof, as held in the case of Atul Kumar Jain - Vs - DCIT, 64 TTJ 786 (Delhi) due to following reason…

MAHAGUN INDIA PVT. LTD.,NEW DELHI vs. ACIT, NEW DELHI

ITA 2819/DEL/2012[2006-07]Status: DisposedITAT Delhi10 Sept 2024AY 2006-07

Bench: Shri Vikas Awasthy & Shri Naveen Chandra

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri Subhra Jyoti Chakraborty, CIT-DR
Section 132Section 133ASection 142Section 153ASection 40

…of "on money" by appellant having been found in respect of sale of flats to one party, addition could not be made in respect of all the parties to whom appellant sold flats merely on the basis of presumption as held in D.N.K. Kamani (HUF) v/s. Dy. CIT (1999) 70 ITD 77 TM (Pat.). In my considered opinion, the Special Auditor is not justified in deciphering the figures on the basis of seized documents based on unfounded presumptions and conjunctures without bringing any corroborative material evidence in support thereof, as held in the case of Atul Kumar Jain - Vs - DCIT, 64 TTJ 786 (Delhi) due to following reason…

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