INCOME TAX ACT, 1961

Section 153A Section 68 Section 69

Search and seizure - Assessment under section 153A - Addition for unaccounted receipts -

With regard to the addition for unaccounted receipt of Rs. 9,27,500. Assessee was asked to explain all these seized documents which was found at the premises of the assessee. Assessee could not explain the same and claimed the alleged seized papers as dumb document which contains some rough jottings. AO came to a conclusion that the seized loose papers shows the cash receipts of Rs. 9,25,500 during financial year 2009-10. CIT(A) also confirmed the addition accepting the observation made by the AO. Held: From perusal of the seized sheets, i.e., LPS 43 to 45 these pages do not come under the category of dumb document. Various financial transactions have been written which had the mention of dates at some pages and mention of A It is quite possible that some employee of the assessee or the group company had written these figures but these documents were found at the assessee's premises and had the reference of assessee but he failed to explain the transactions in these seized documents even when the burden lies heavily on the shoulders of the assessee, which in the instant case seems not to have been properly fulfilled. As the reply/submission made by the assessee. were unsatisfactory and vague, there was no reason to make any interference in the findings of CIT(A) confirming the addition for unaccounted cash receipt.

REFERRED :

FAVOUR : Asanst the assessee.

A.Y. : 2007-08 to 2013-14

INCOME TAX ACT, 1961

Section 153A Section 69 Section 69C

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