Commissioner of Income Tax vs Dr. S. Bharti

We have heard learned counsel for the parties and gone through the impugned order and the proposed question of law. In view of the following findings, we are of the view, no substantial question arises for determination.

"The Revenue has failed to prove that the assessed had made any undisclosed investment in the properties named above. Thus, concurring with the findings given in the cases referred to by learned counsel, we hold that the Assessing Officer was not justified in making any addition on account of undisclosed investment in any of the five properties. Thus, the additions made by the Assessing Officer on account of undisclosed investment in the house properties are deleted."

"When the amount of Rs. 21 lakhs was found in the locker in the Bank of Maharashtra and further sum of Rs. 1.89 lakhs was found in Locker No. 362 in the Allahabad Bank, these amounts could be easily said to have come from professional receipts only. No other activities are being done by the assessed. Thus, the natural conclusion is that the cash amount found in these two lockers as well as the cash amount found during the course of search at the premises No. 18/49, East Patel Nagar, have come out of professional receipts only. As these amounts have already been considered and taken by the assessed while filing the return in response to notice u/s 158BC of the Act, no separate addition on account of suppressed professional receipts was called for."

Dismissed.