SURESH CHAND BANSAL,HARYANA vs. ACIT, CENTRAL CIRCLE-16 , DELHI

In the result, the appeal filed by the assessee is allowed

Bench: SHRI S.RIFAUR RAHMAN (Accountant Member), SHRI SUDHIR PAREEK (Judicial Member)

u/s 271(1) (c) observing that the assessee had declared the additional income only because of initiation of search proceedings. We observed that the Assessing Officer has found the credit and debit entries in the bank statement submitted by the assessee only during the assessment proceedings, therefore, there is no link to the material found during the search. Therefore

AMIT BANSAL,HARYANA vs. ACIT CENTRAL CIRCLE-16, DELHI

In the result, the appeal filed by the assessee is allowed