TMI Blog2012 (7) TMI 433X X X X Extracts X X X X X X X X Extracts X X X X ..... f an assessee as per provisions of section 71 & 72 of the Income Tax Act, 1961 and the assessee has computed its total income keeping in view these provisions, therefore, we do not see any reason to interfere in the order of Ld CIT(A) – In favor of assessee - I.T.A. No.1320/Del/2012 - - - Dated:- 15-6-2012 - SHRI R.P. TOLANI, AND SHRI T.S. KAPOOR, JJ. Appellant by : Shri Umesh Chand Dube, Sr. DR. Respondent by : Shri Ashwani Taneja, Advocate. ORDER PER TS KAPOOR, AM: This is an appeal filed by the revenue against the order of Ld CIT(A), Faridabad. The grounds raised by the revenue are as under:- 1. On the facts and in the circumstances of the case, the Ld CIT(A) has erred on facts and in law in deleting the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 15.4.2007, no depreciation was claimed up to 31.3.2007. During the current year, there are some additions in the fixed assets which have been incurred through bank. These expenses are between Rs. 5 lakhs to Rs. 10 lakhs approximately as far as I remember. However, at this stage to purchase peace of mind on behalf of the company M/s Healer Hospital (P) Ltd., I wish to make voluntary disclosure that the company has incurred an expenditure of Rs. 40,00,000/- over and above the expenses towards fixed assets recorded in the books of accounts and on behalf of the assessee company and after due consultation with other stake holders I wish to offer `.40,00,000/- for taxation over above the regular income/loss i.e. arrived at as on 31.3.2008. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ited to the P L A/c includes an amount of Rs. 27,86,699/- as mobile phone booster tower receipts Rs. 51,500/- as liability written back and amount of Rs. 40,00,000/- as income from other sources declared during the course of survey. In the computation of income, the income of Rs. 40,00,000/- surrendered by the assessee has been shown as income from other sources and the same has been claimed set off against business loss of Rs. 1,02,34,200/- thereby reducing the business loss to Rs. 62,34,200/-. Having verified the factual position there remains no dispute to the fact that the additional income of Rs. 40,00,000/- declared by the appellant was duly included in the computation of income. The additional income declared was certainly on account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any other head except for losses which arise under the head capital gains. The Income tax is only one tax and levied on the sum total on the income classified and chargeable under the various heads. Section 14 has classified different heads of income and income under each head is separately computed. The Ld AR further argued that cases cited by ld DR do not fit squarely in the facts of the present case. He brought to our notice that in the case of Sarla Handicrafts Pvt. Ltd. reported in 293 ITR 94, the assessee was engaged in the export business and during survey u/s 133A of the Act, the assessee had surrendered an amount of Rs. 19,00,000/-. The assessee in this case argued that since its only source is income from export and surrendered am ..... X X X X Extracts X X X X X X X X Extracts X X X X
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