2. The question urged by the Revenue in these appeals is whether the ITAT
erred in law in setting aside the initiation of proceedings against the
Assessee under Section 153C of the Act. The further question urged is
whether the ITAT erred in deleting the following additions made by the
Assessing Officer („AO‟): Rs. 16,42,68,522 as cash payments from
unaccounted sources; Rs. 39,65,106 on account of disallowance of payment
of sinking funds; Rs. 29,73,830 on account of disallowance of maintenance
security and Rs.65,70,747 on account of disallowance of commission.
3. The background facts are that the Assessee filed her return of income for
the AY in question on 2nd August, 2010 declaring an income of
Rs.2,20,19,780 under the heads income from house property, short terms
capitals gains and income from other sources. The assessment for the AY in
question was completed under Section 143(3) of the Act with the AO
passing an assessment order dated 29th December, 2011 at a total income of
Rs. 21,22,88,069 against the return income of Rs. 2,20,19,780.
Source: Indian Kanoon