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Judgment
PER SATBEER SINGH GODARA, JM
These Revenue’s twin appeals ITA Nos.8344 & 8345/Del/2018 with assessee’s as many cross objections C.O. Nos. 73 & 74/Del/2022 for assessment years 2015-16 and 2016-17, arise against the Commissioner of Income Tax (Appeals)-29 [in short, the “CIT(A)”], New Delhi’s orders, both dated 26.10.2018 passed in case nos. 185 & 214/2017-18/CIT(A)-29, involving proceedings under section 153A/143(3) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’), respectively.
Heard both the parties. Case files perused.
We notice during the course of hearing that the Revenue raises its identical sole substantive grievance in both the instant appeals that the CIT(A) has erred in law and on facts in reversing the Assessing Officer’s assessment findings treating the assessee’s cash credits of Rs.7,35,00,000/- and Rs.27,06,75,000/-; assessment year-wise, respectively, as unexplained under section 68 of the Act.
Both the parties vehemently reiterate their respective stands against and in support of the impugned section 68 addition. We wish to reiterate the fact that the same has indeed been made on “protective” basis in the assessee’s hands in both these assessment years. That being the case, we notice from a perusal of the Assessing Officer’s identical assessment discussion that he had treated the assessee as part of a well-orchestrated accommodation entry network controlled by M/s. Jain Brothers for the purpose of providing the corresponding entries to various parties. The CIT(A)’s lower appellate discussion on the other hand holds that till the time it is not proved that the assessee is itself not the beneficiary or owner of the cash credits, it could not form subject matter of addition in its hands. Our attention is further invited to para 8.11 in the CIT(A)’s order that the department had already made substantive additions in M/s. Jain Brothers respective cases.
Learned counsel has further invited our attention to this tribunal’s common order dated 18.08.2023 in ITA Nos.8410 to 8412/Del/2019 deciding the very issue against the department thereby upholding the CIT(A)’s identical action deleting identical kinds of “protective” additions emanating from the very search action. We thus adopt judicial consistency to uphold the learned CIT(A)’s detailed discussion deleting the impugned identical section 68 unexplained cash credits addition made on “protective” basis in very terms. The Revenue fails in its twin appeals ITA Nos. 8344 & 8345/Del/2018. Dismissed accordingly.
Learned counsel does not press for the assessee’s twin cross objections C.O. Nos. 73 & 74/Del/2022 are dismissed as not pressed.
To sum up, these Revenue twin appeals ITA Nos.8344 & 8345/Del/2018 and assessee’s cross objections C.O. Nos.73 & 74/Del/2022 are dismissed. A copy of this common order be placed in the respective case files.