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2010 (12) TMI 687 - HC - Income TaxRevision - Survey - Scrutiny - Addition - assessee has itself voluntarily surrendered the additional income of Rs.1,24,004/- on account of difference in stock, during the course of fresh assessment - It is seen from the Audited trading and profit and loss account filed along with the return of income that the assessee has not made any disclosure of the additional income of Rs. 1,24,004/- surrendered by it during the course of survey - It is further seen that certain expenses which are debited to the P&L account at a substantial figure have not been carefully examined by the A.O. like payment of sales commission to its sister concern - In this case the difference of stock worked out by the department during the course of survey and admitted by the assessee should have been added as income by the assessee in its return which was not shown by the assessee nor was added back by the A.O. concerned while finalization of assessment proceedings - CIT is justified in revising order u/s 263.
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