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2016 (11) TMI 1308

Head Note:
Refund of amount offered for taxation conditionally - Held that:- Since there is no co-relation between the alleged disclosures of the appellants qua the seized material, we do not find any reason why addition should be made and why the tax paid on such disclosure should not be refunded.

The amount disputed by the present assessee has also been mentioned at Sr.No.3 on page no.3 of the order, while taking note of the details in tabular form. There is no disparity of any fact. Therefore, respectfully following the above, I allow appeal of the assessee, and direct the AO to grant refund as claimed by the assessee on the amount of ₹ 15 lakhs, which was offered conditionally. This amount cannot be taxed in the hands of the assessee, and tax paid on this amount is to be refunded. - Decided in favour of assessee

 


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