Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2017 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (10) TMI 780 - HC - Income TaxUndisclosed income - addition on the basis of statement recorded at the time of survey - suo moto surrender - Held that:- From perusal of the record, it is clearly transpires that while filing an application dated 27.12.2008, the appellant has stated before the Assistant Director of Income Tax (Investigation) that he was forced to surrender the said amount at the time of survey, whereas there is no evidence or material furnished by the assessee to support the said contention and in fact the assessee himself has surrendered the amount as his undisclosed commission income of ₹ 5,00,000/- in assessment year 2006-07 and ₹ 7,00,000/- in assessment year 2007-08. Admittedly, the assessing authority has allowed enough opportunity to the assessee starting immediately from the date of survey till the assessment order dated 29.12.2008 is passed but the appellant for the first time stated that he has been forced to surrender the said amount only a day before the assessment proceedings are completed and the assessment order has been passed i.e. 27.12.2008. It is clearly an admission on the part of the appellant to surrender the amount of ₹ 5,00,000/- as an admitted commission which itself is an important piece of evidence, therefore, statement made voluntarily by the assessee could well affirm the basis of assessment which in the instant case is done. It is well settled law that burden lays on the assessee to establish that the admission made at the time of survey by means of a statement was wrong and, in fact, there was no additional income. In the present case, this burden does not even seem to have been admitted to be discharged by the assessee.
|