TMI Blog2010 (1) TMI 948X X X X Extracts X X X X X X X X Extracts X X X X ..... ibunal confirmed. Addition on account of cash found during the course of survey - held that:- the amount of Rs. 10 lakhs cash found during the course of survey was duly entered in the books of account and the same did not remain unrecorded and it was not unaccounted. The Tribunal noted that the addition of the same amount again during the assessment proceedings amounted to double addition, since it was already shown in the books of account. - Decided in favor of assessee. - 1 of 2010 - - - Dated:- 29-1-2010 - VINEY MITTAL, PRAKASH SHRIVASTAVA, JJ. JUDGMENT 1. Shri R. L. Jain, Senior Advocate with Ms. Veena Mandlik, Advocate for the appellant. 2. This appal under section 260A of the Income-tax Act, 1961, has been filed by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... espect of the sale of bardana, on the basis of noting in the loose paper and the addition of Rs. 10 lakhs (rupees ten lakhs) in respect of the cash, which was found in the office premises of the assessee. The Commissioner of Income-tax (Appeals) found that the entry in the loose paper in respect of sale of bardana relate to the sale which was effected only 3-4 days prior to the survey, but he treated the said transaction to be unrecorded on the date of survey. He deleted the addition of Rs. 10 lakhs (rupees ten lakhs), which was found in cash from the office premises of the assessee, since it was found to be the realisation of the sales of old bardana. The Income-tax Appellate Tribunal in appeal deleted addition of Rs. 10 lakhs in respect o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppeals), which the Assessing Officer had added on the basis of the loose paper found during the course of survey. The facts recorded by the Tribunal are not in dispute and the conclusion, which has been drawn by the Tribunal on the basis of the factual analysis also does not suffer from any error. 6. So far as the issue of the deletion of Rs. 10 lakhs (rupees ten lakhs), which were added on account of cash found during the course of survey is concerned, during the survey on amount of Rs. 10 lakhs (rupees ten lakhs) was surrendered on account of unrecorded sale of bardana and further Rs.10 lakhs (rupees ten lakhs) were found as cash. The Tribunal has found that after completion of survey, the alleged unaccounted sale of bardana of Rs. 10 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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