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2015 (10) TMI 920 - ITAT DELHIAddition being the difference between the declared income as per the statement given during the course of survey and income as per the income tax return - CIT(A) deleted the addition - Held that:- The estimated declaration of income during the course of survey was given in December 2006 for the period 1.4.2006 to 31.3.2007 i.e. much prior to close of the accounting year. No person can tell in advance in the month of December 2006 as to what exactly would be the income for the entire period of 1.4.2006 to 31.3.2007. The return of income filed by the assessee is on the basis of audited statement of accounts and not on the basis of any surrender. The books of accounts has not been rejected nor any incriminating material or evidence of undisclosed income was unearthed either during the course survey or assessment proceedings. The Assessing Officer has himself recognized that the declaration made by the assessee was not based on any surrender. The Assessing Officer has not assessed the income at ₹ 6 crores which was the estimated declaration of income during the course survey, but he has completed the assessment at ₹ 5,14,46,510/-. It is trite position of law that statement recorded during the course of survey cannot be the sole basis for making an addition especially when there is nothing incriminating material or any undisclosed income unearthed during the course of survey proceedings u/s 133A of the Act.In view of the aforesaid reasoning we are of view that the order of the CIT(A) is correct and in accordance with law and no interference is called for - Decided against revenue.
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