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13-03-2020, Pankaj Kalani, Section 132(4), 153C, 147, 148, Tribunal Indore

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1 year 7 months ago #12369 by amit
Section - 132(4), 153C, 147, 148
Order Date - 13-03-2020
Favouring - Assessee allowed for statistical purposes
Court - Tribunal Indore
Appellant - CIT
Respondent - Pankaj Kalani
Justice - KUL BHARAT JM & MANISH BORAD AM
Citation - 320Taxpundit595
Appeal No. - ITANo.1044/Ind/2016
Asstt. Year - 2012-13

Order

PER : KUL BHARAT

This bunch of 19 appeals by the assessee(s) & Revenue against the order of Commissioner of Income Tax(Appeals)-III, Indore dated 21.03.2016, & 25.07.2016, 05.02.2018 pertaining to assessment years 2008-09 to 2010-11 & 2012-13.

2. All these appeals were taken for hearing simultaneously being interconnected as same relate to a Kalani Group. The Revenue has raised following grounds of appeal in IT(SS)ANos.99 & 104/Ind/2016(Pankaj Kalani & Dipak Kalani):

“On the facts and in the circumstances of the case the Ld. CIT(A) erred in deleting the addition made by the AO of Rs.1,67,63,500/- Rs.1,43,000/- & Rs.5,01,500/- on account of unexplained receipt on protective basis without appreciating the facts and evidences brought into light by the AO during the assessment proceedings.

” IT(SS)A Nos.100 & 105/Ind/16 (Pankaj Kalani & Dipak Kalani):

“On the facts and in the circumstances of the case the Ld. CIT(A) erred in deleting the addition made by the AO of Rs.3,47,41,500/- Rs.3,33,70,000/-,Rs.18,000/- Rs.12,50,000/- & Rs.12,71,500/- on account of unexplained receipt on protective basis without appreciating the facts and evidences brought into light by the AO during the assessment proceedings.”

IT(SS)A Nos.101 & 106/Ind/16 (Pankaj Kalani & Dipak Kalani):

“On the facts and in the circumstances of the case the Ld. CIT(A) erred in deleting the addition made by the AO of Rs.35,00,000/- Rs.15,75 000/-,Rs.3,75,79,500/- Rs.6,76,500/- & Rs.80,68,500/- on account of unexplained receipt on protective basis without appreciating the facts and evidences brought into light by the AO
during the assessment proceedings.”

ITANo.1044 & 1045/Ind/2016 for Assessment Year 2012-13(Pankaj Kalani & Dipak Kalani):

1. On the facts and in the circumstances of the case the Ld. CIT(A) has erred in giving relief to the assessee by deleting the additions of Rs. 10,22,882/- by admitting additional documentary evidences without calling remand report.

2. On the facts and in the circumstances of the case the Ld. CIT (A) has erred in deleting the addition of Rs. 27,19,608/- made as unexplained investment as assessee has failed to explain the source of jewellery.

3. On the facts and in the circumstances of the case the Ld. CIT (A) has erred in deleting the addition of Rs.32,044/- made by the AO as unexplained investment in silver utensils without any documentary evidences given by the assessee.

4. On the facts and in the circumstances of the case the Ld. CIT(A) has erred in deleting the addition made by the AO of Rs. 1,96,58,000/- on account of unexplained receipt on protective basis without appreciating the facts and evidences brought into light by the AO during assessment proceedings.

5. On the facts and in the circumstances of the case the Ld. CIT (A) has erred in deleting the addition of Rs. 1,49,75,466/- by holding that the addition made on the basis of statement recorded under section 132(4) has no relevance.

The appellant reserve the right to add, amend or alter the grounds of appeal on or before the date; the appeal is finally heard for disposal.

The assessee has raised following grounds of appeal in CO No.25 & 26/Ind/2017 (Pankaj Kalani & Dipak Kalani):

1.1] That on the facts and in the circumstances of the case the Ld CIT[A] erred in maintaining the additional income as declared and incorporated in the return of total income even when the correct amount of total income was less than what was actually offered by the assessee in his return of total income. It is settled position of law, the correct amount of total income has to be assessed in the hand of the assessee.

1.2] That on the facts and in the circumstances of the case the Ld· Assessing officer erred in maintaining the additional income as offered by the assessee to the tune of Rs 62,50,000/- whereas correct amount of income calculated comes to Rs 33,89,582/ - only.

2] The assessee reserves his right to add, alter and modify the ground of appeal.

The Revenue has raised following grounds of appeal in ITANos.451 to 453/Ind/2018 (Kalani Industries P Ltd):

1.Whether on the facts and circumstances of the case the Ld.CIT(A} has erred in deleting the addition of Rs. 3,48,16,000/- made on the basis on concrete material evidences seized during the course of the search inventorised in LPS-10 and LPS-11?

2.Whether on the facts and circumstances of the case the Ld.CIT(A} has erred in ignoring the findings of the assessing officer in which it was discussed by DCIT-Central circle, Indore in his assessment order that the details appearing on the loose papers LPS-10 and LPS-11 exactly match with the details appearing on the Page 254 of LPS 2/14 taken from the file of A/3 seized during the search by Excise department on Signet group found and seized during the Income tax search at the office of M/s Signet Industries Ltd., containing details of transaction of Shri. Pankaj Kalani and prepared by Shri. Mukesh Sangla?

3.Whether on the facts and circumstances of the case the Ld.CIT(A} has erred in not considering the fact that in LPS-11, the various transactions entered in different names were admitted as related to the assessee M/s Kalani Industries Private Limited by Shri. Deepak Kalani in his statement recorded on oath on 23/12/2011?

4.Whether on the facts and circumstances of the case the Ld.CIT(A} has erred in not considering the finding of the assessing officer that the amount in Column No.3 of LPS-11 represents the amount received by Shri Deepak Kalani in Cash from M/s Kalani Industries Private Limited which are

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