Anubhav Sharma ORDER
Anubhav Sharma, Member (J)
1. The appeal is preferred by the assessee against order dated 13/11/2017 in appeal no. 77/16-17 for the assessment year 2013-14 passed by Ld. Commissioner of Income Tax (Appeals)-XXVI, u/s. 250(6) of the Income Tax Act, 1961.
2. Now before the Tribunal the assessee has raised following grounds of appeal:-
"1. The order of the Hon'ble Commissioner of Income Tax (A) is arbitrary, against law and facts on record.
2. The Hon'ble Commissioner of Income Tax (A) has failed to consider that the issuance of notices u/s. 153C/142(1)/143(2) of the Income Tax Act, 1961 by the learned Assessing officer and the proceedings conducted there under are against the provisions contained in the Income Tax Act, 1961 and is bad in law and hence liable to be quashed.
3. The Hon'ble Commissioner of Income Tax (A) has erred in confirming addition of Rs. 1,44,00,000/- made on protective basis by the Assessing officer without going through the facts of the case, statutory provisions as well as explanation filed during the course of assessment proceeding as well as during appellate proceeding and order so passed shows lack of application of mind
4. The Hon'ble Commissioner of Income Tax (A) while confirming the addition made by the learned Assessing officer has failed to consider the fact that during the course of search no incriminating documents in respect of transaction appearing in the bank account have been found and as such addition made by the Assessing officer while passing the order u/s. 153C/143(3) is against the provision contained in the Income Tax Act, 1961
5. The Hon'ble Commissioner of Income Tax (A) officer while confirming the addition made on protective basis has failed to consider that the substantive addition made in the hands of companies of JP Minda group has been deleted by Hon'ble Commissioner of Income Tax (A) on the ground that the investment made by the appellant is genuine.
6. The appellant herein craves its right to alter, amend, add and/or withdraw any grounds of appeal and/or to take any additional grounds of appeal."
3. The facts in brief are a search & seizure operation u/s. 132 of the Income Tax Act, 1961 was conducted in the Minda Group of cases on 20.09.2013. During the search and seizure operation documents belonging to the assessee were, also seized from the business and residential premises of the Minda Group. Since documents related to assessee were found and seized during the course of search in the case of M/s. Jay Ushin Ltd., therefore, satisfaction note as envisaged u/s. 153C was recorded in the case of assessee as well as in the case of M/s. Jay Ushin Ltd. Accordingly a notice u/s. 153C of the IT Act for A.Y. 2008-09 was issued to the assessee on 29.01.2016 requiring it to file return of income within 15 days of receipt of such notice. Assessee filed a reply on 25.02.2016 enclosing return of income, audited balance sheet and profit and loss account in response to notice u/s. 153C of the Act. In this return assessee had shown income of Rs. 7,55,810/-. A notice u/s. 143(2) of the Act was issued to the assessee on 03.03.2016. A detailed questionnaire alongwith a notice u/s. 142(1) of the Act was issued to the assessee on 03.03.........