IN THE INCOMETAX APPELLATE TRIBUNAL JAIPUR ‘A’ BENCH: JAIPUR Before Dr. Mitha Lal Meena, Hon’ble Accountant Member, and Dr. S. Seethalakshmi, Hon’ble Judicial Member (Assessment Year 2016-17 to 2019-20)

Shri Manoj Kumar Jain, Vs ACIT, Central Circle, Kalani & Co., Chartered Accountants, Kota.

5^th Floor, Mile Stone Building, Gandhinagar Turn, Tonk Road, Jaipur – 302015.

PAN No. ABPPJ1500N (Appellant) (Respondent) Assessee by Shri P.C. Parwal, C.A.

Revenue by Shri Rajesh Ojha, CIT-DR.

Date of Hearing 16.07.2025 Date of Pronouncement 11.09.2025 ORDER Dr. Mitha Lal Meena, A.M.:

These appeals are filed by the assessee against the separate order of the Commissioner of Income Tax, Appeal Udaipur-2 [hereinafter referred to as “the CIT(A)”] even dated 27.02.2025 for the assessment year 2016-17, 2017-18 and 2018-19 challenging therein confirmation of the additions made u/s 69, based on statement recorded u/s 132(4) of the Income Tax Act, 1961. Therefore, these appeals were heard together and disposed off by this consolidated order for convenience and brevity. 2. The grounds of appeal are reproduced as under:

Grounds of Appeal ITA No. 643/JPR/2025

1. The Ld. CIT(A) has erred on facts and in law in confirming the addition of Rs.2.25 crores on the basis of draft agreement for a land deal which is not signed by the assessee and by not appreciating the fact that when no cheque payment of Rs.30 lacs as mentioned in the agreement was made by the assessee, it cannot be assumed that cash payment of Rs.2.25 crore is made more particularly when land owners have affirmed that the draft agreement has not materialized, they have not received cash/cheque from the assessee and that the land was sold by them by plotting which is duly disclosed in their return of income.

2. The Ld. CIT(A) has erred on facts and in law in confirming the addition of Rs.5 lacs on account of alleged unexplained investment in Dhanwa farmhouse on the basis of the statement of assessee recorded during search which was retracted later on by not accepting the contention of assessee that such investment was made by assessee's wife Smt. Saroj Jain for which advance payment of Rs.3 lacs was made which is duly disclosed in her financial statements.

Grounds of Appeal ITA No. 644/JPR/2025 The Ld. CIT(A) has erred on facts and in law in confirming the addition of Rs.20 lacs u/s 69 of the Act on account of unaccounted cash payment given to Sh. Jugal Kishore Kaliya on the basis of the statement of assessee recorded during search which was retracted later on by not accepting the contention of assessee that he has advanced Rs.10 lacs only to Sh. Jugal Kishore Kaliya out of his income.

Grounds of Appeal in ITA No. 645/JPR/2025 The Ld. CIT(A) has erred on facts and in law in confirming the addition of Rs.68,85,180/- u/s 69A of the Act on account of alleged unexplained investment in jewellery on the basis of the 1 statement of assessee recorded during search which was retracted later on by not accepting the contention of assessee that the jewellery found in search is covered by the jewellery found in earlier search dt. 18.01.2003 by not drawing correct inference from the explanation of assessee.

Grounds of Appeal ITA No. 643/JPR/2025

3. Briefly the facts of the case are that a search & seizure operation under section 132(1) of the Income-tax Act, 1961 (hereinafter "the Act") was Carried out on 18.04.2018 at the various premises of "Manak Chand Kailash Chand Saraf Group, Kota" to which the appellant belongs. Cash, jewellery and other documents found and seized from some person's residence and business premise. The case of the appellant was also covered under search proceeding. Consequent to search action, the case of the appellant was centralized to Central Circle-Kota. Notice u/s 153A was issued by the AO on 04.01.2019 which was duly served to the appellant. The appellant filed his income tax return u/s 153A on 10.07.2019 declaring total income of Rs.12,00,580/- and agriculture income of Rs.30,000/-, which