ORDER

PER: SANDEEP GOSAIN, J.M.

The present appeal has been filed by the assessee against the order passed by the ld. CIT(A)-IV, Jaipur dated 07/09/2019 for the A.Y. 2012-13 wherein following grounds have been taken by the assessee:

“1. That the order passed by the Assessing Authority and sustained by the Commissioner of Income Tax (Appeals) is illegal and against the law.

2. That the order is illegal in view of the fact that the Commissioner of Income Tax (Appeals) as well as the Assessing Authority fails to cross examine the deponent of the affidavits submitted before the Assessing Officer. In view of judgment of Hon’ble supreme Court delivered in the case of M/s Mehta Parekha & Co., the contents of the affidavit should have been accepted.

3. That the assessment completed in the hands of the assessee is not justified because the amount belongs to M/s Lux Industries Limited as admitted by the Director of the company. Therefore, the assessment is illegal.

4. That the statement of Mr. Bhaskar Poddar which was the basis of sustaining the addition, was no statement in the eye of law in view of the judgment of Hon’ble Rajasthan High Court.

5. That the order passed by the Commissioner of Income Tax (Appeals) is against judicial decorum and judicial discipline because the judgment having the character of binding nature and not followed by the Commissioner of Income Tax (Appeals).

6. That the charging of interest is illegal and against the law.”

2. The hearing of the appeal was concluded through video conference in view of the prevailing situation of Covid-19 Pandemic.

3. The brief facts of the case are that the assessee is an individual and derived income from commission received as agent of M/s Lux Industries Ltd., Kolkata which was shown under the head business income, besides petty interest received from banks. The assessee filed his return of income on 13/09/2012 declaring total income of Rs. 2,20,007/-. Subsequently, a search and seizure operation U/s 132 of the Income Tax Act, 1961 (in short the Act) was carried out on 19/04/2011 at New Delhi Airport, during search, an amount of Rs. 25.00 lacs were found and seized from the assessee. On being asked, the assessee filed a reply dated 04/10/2013 and stated that the cash amount of Rs. 25.00 lacs seized from the assessee does not belong to the assessee but belongs to the company M/s Lux Industries Limited, Kolkata which is an existing assessee, assessed to tax by DCIT, Circle-9, Kolkata and further that the assessee is connected with the said company and posted at Delhi as commission agent, therefore, the amount was carried for and on behalf of the company and he has nothing to do with the amount so seized from him. Thereafter the A.O. completed the assessment U/s 143(3) r.w.s. 153B(1)(b)/144A/154 of the Act determining the total income of the assessee at Rs. 27,20,010/-.

4. Being aggrieved by the order of the A.O., the assessee carried the matter before the ld. CIT(A), who after considering the submissions of parties and material placed on record, upheld the action taken by the A.O.. Against the said order of ld. CIT(A), the assessee has preferred the present appeal before the ITAT on the grounds mentioned above.

5. All the grounds of appeal are interrelated and interconnected but by way of this appeal, the assessee is basically aggrieved by the order of the ld. CIT(A) in confirming the action of the A.O. and submitted that the amount seized from the assessee does not belong to him but belonged to M/s Lux Industries Ltd.. In this regard, the ld AR appearing on behalf of the assessee has reiterated the same arguments as were raised before the ld. CIT(A) and also relied on the written submissions filed before the Bench and the same is reproduced below:

“That the assessee successfully discharges the burden by finding respective evidence is available on record in the paper book. The assessee submitted his affidavit stating that amount belongs to the Lux Industries Limited; also submitted affidavit