Assessee, an interior designer, rendered services to ‘S’ . A search was conducted in premises of ‘S’ during of which certain documents were seized showing that some unaccounted cash payments were made to assessee .Accordingly, proceedings were initiated under S. 153C and addition was made to assessee’s taxable income . Tribunal held that no unexplained payment was made in relevant assessment year accordingly deleted the addition. High Court affirmed the order of the Tribunal . (AY. 2007 -08)
PCIT v. Jayant K. Furnishers. (2018) 98 taxmann.com 394 ( Bom) (HC) Editorial : SLP of revenue is dismissed , PCIT v. Jayant K. Furnishers. (2019) 266 Taxman 91 (SC)
S. 153C : Assessment – Income of any other person – Search- Cash receipts- No payments were made in relevant assessment year- , impugned addition made in assessment year- Deletion of addition is held to be justified . [ S.69A ]