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 Attachment on Cash Credit of Assessee under GST Act: Delhi HC directs Bank to Comply Instructions to Vacate
 Income Tax Addition Made Towards Unsubstantiated Share Capital Is Eligible For Section 80-IC Deduction: Delhi High Court

Shri Gautam Kumar, B 101/102, Cosmopolitan Society, Plot No. 33, Sector 10, Dwarka, N. Delhi. Vs. ACIT, Central Circle 12, New Delhi.
September, 29th 2021

These are the four appeals filed by the same assessee for Assessment Year 2003-04, 2004-05, 2005-06 and 2007-08. Issues arising out of the common search, parties argued them together and therefore these are disposed of by this common order.

Assessment year 2003 – 04

2. ITA No. 838/Del/2011 is filed by the assessee for Assessment Year 2003- 04 against the order of the ld CIT (A)-1, New Delhi dated 27.10.2016. the assessee has raised the solitary ground of addition of Rs. 1,85,000/- in the hands of the assessee.

3. The brief facts of the case show that the assessee is an individual. A search and seizure operation was conducted on 12.12.2006 in case of the assessee along with other parties. Certain documents were found and therefore, proceedings u/s 153A was initiated. The notice was issued on Page | 2 05.09.2008. on 21.10.2008 the assessee filed return of income declaring income of Rs. 7,02,000/- and no undisclosed income was shown in return.

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