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2010 (7) TMI 74 - DELHI HIGH COURTSurvey u/s 133A - Surrender of income during survey - 08th March, 2002 a survey operation was conducted on the assessee’s business premises under Section 133A of the Act, 1961. During the course of survey, stock inventory, trading account and inventory of cash was prepared and the statement of assessee was recorded. On the basis of assessee’s admission, the assessing officer made addition of Rs.10,83,540/- to the income declared. The addition consisted of Rs.7,03,540/- on account of excess stock, Rs.2,75,000/- on account of showroom renovation and Rs.1,05,000/- on account of excess cash found. - immediately thereafter, on 13th March, 2002 assessee withdrew the admission and stated that there was neither excess cash nor stock or expense incurred on renovation. – Held that: - assessee had filed books of accounts along with necessary supporting evidence like sale/purchase bills, cash books and ledger etc. - books result have been rejected by the assessing officer on the sole reason that the purchase bills had not been produced; even though as per letters dated 13th March, 2002 and 22nd January, 2003, the purchase bills had been filed - In the present case, the assessee has duly supported his retraction with the book results by filing necessary evidence. – no addition to be made
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