TMI Blog2022 (5) TMI 1283X X X X Extracts X X X X X X X X Extracts X X X X ..... which was affirmed as reported in [ 2013 (6) TMI 305 - SC ORDER] it has been held that the Department should not insist on making any disclosure and further such disclosure made in the course of survey should not be relied upon and the assessment should be based on the papers found and impounded during the course of survey. After noting the said decision, the CIT(A) has, in our view, thoroughly examined the factual position including the reply given by the assessee to the remand report called for from the assessing officer. Ultimately, the appeal was allowed in favour of the assessee by order dated 11th July, 2014. Tribunal on its part re-examined the particulars and took note of the stand taken by the assessee during the assessment pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Bench, Kolkata (in short the Tribunal ) in ITA No.1860/Kol/2014 for the assessment year 2011-12. The revenue has raised the following substantial questions of law for consideration : I) Whether on the facts and in the circumstances of the case Ld. Tribunal has erred in law as well as on facts in deleting addition on account of under valuation of stock without considering relevant pieces of evidences recorded during survey? II) Whether on the facts and in the circumstances of the case Ld. Tribunal has erred in law as well as on facts in deleting addition on account of under valuation of stock without considering admission of the Director of the assessee in this regard made twice in a gap of about one month? III) Whethe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le basis for revision of assessment or to conclude that there was under valuation of the stock elaborately discussed by the CIT(A). The CIT(A) also took note of the decision in the case of CIT Vs. Khader Khan Son (2008) 300 ITR 157 (Mad) which was affirmed by the Hon ble Supreme Court as reported in (2013) 352 ITR 480 (SC) wherein it has been held that the Department should not insist on making any disclosure and further such disclosure made in the course of survey should not be relied upon and the assessment should be based on the papers found and impounded during the course of survey. After noting the said decision, the CIT(A) has, in our view, thoroughly examined the factual position including the reply given by the assessee to the reman ..... X X X X Extracts X X X X X X X X Extracts X X X X
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