TMI Blog2012 (10) TMI 894X X X X Extracts X X X X X X X X Extracts X X X X ..... y and note books to be on account of sales which were unaccounted. In the light of the aforesaid findings, the contention of the assessee that the amount of Rs. 27,16,001/- could not be included as unaccounted cash and it was Rs.3,23,999/- only does not carry any weight and the plea of the assessee has rightly been dispelled by the authorities below. – against assessee - IT Appeal No. 17 of 2012 - - - Dated:- 7-5-2012 - Ajay Kumar Mittal and G.S. Sandhawalia, JJ. Ravi Shankar for the Appellant. JUDGMENT Ajay Kumar Mittal, J - This appeal has been filed by the assessee under Section 260A of the Income Tax Act, 1961 (in short "the Act") against the order dated 27.9.2011 passed by the Income Tax Appellate Tribunal, Chand ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erence in cash 3,23,999/- Total 12,93,999/-" 4. The assessment was completed on 30.11.2009 at an income of Rs. 74,42,709/- against returned income of Rs. 21,34,780/-after making addition of amount surrendered during survey. The assessee took the matter in appeal before the Commissioner of Income Tax (Appeals) [in short "the CIT(A)"] who vide order dated 1.3.2011 upheld all the additions made by the Assessing Officer and dismissed the appeal. Still being dissatisfied, the assessee filed an appeal before the Tribunal. The Tribunal vide order dated 27.9.2011 partly allowed the appeal. Hence, the present appeal. 5. Learned counsel for the appellant fairly submitted that he does not press question (A). Accordin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... date of survey and the date of filing of return (nearly a year) never ever raised this question. The retraction of the assessee is bad on law. Reliance is placed on the decision of Hira Lal Maganlal Company v. DCIT 96 ITD 113 and on the judgment of Punjab and Haryana High Court in M/s Shiv Shakti Steel Tubes v. Commissioner of Excise [2007] (C.E.A. No. 18 of 2007). (b) If the cash book or cash in hand position were not clear on the date of survey Sh. Harbhajan Singh should have pointed this out to the survey party. But he did not do so. The surrender made by him was without any influence or coercion. (c) If the mistake was detected at the time of audit or even before that the assessee should have brought this to the notice of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ined books of accounts. In fact, the assessee had himself admitted to the difference of Rs.30,40,000/-. 19. I do not find any force in the argument of learned counsel that entire amount of cash found during the survey was treated as unaccounted cash. This argument is not based on any evidence material on record. There is also no force in the argument that assessee was too much perplexed at the time of survey. In fact, there was no stress and undue pressure on assessee when he submitted his offer letter admitting Rs.30,40,000/- as difference in cash on account of physical counting and cash available in books of accounts. 20. Under the circumstances, the addition of Rs.27,16,001/- made is confirmed, dismissing this ground of appeal." ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of survey the books of account of the assessee were found to be incomplete, though the survey had taken place towards the close of the accounting period i.e. 20.3.2007. Finding was concluded by the survey team that the assessee was indulging in sales outside the books of account. Even sale invoices were found during the course of survey which were confronted to the assessee who in turn admitted that the said invoices were either not recorded in the books of account or were under invoiced. Certain notings in diary and note books were also found which when confronted to the office Assistant of the assessee were admitted to be on account of sales. The statement of the office Assistant was recorded on the date of survey and even the statement o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s as the assessee had offered additional sales of Rs.80 lacs being outside the books of account and the income on the said sales of Rs.9,60,000/- has been surrendered as additional income by the assessee in the return of income, which was also earlier offered as part of surrender of Rs.50 lacs. The statement recorded in the present case in an important piece of evidence and cannot be brushed aside as the assessee has failed to prove its case, in view of the documents/evidence found during the course of survey in addition to unaccounted stock and cash in hand." 10. A reading of the aforesaid findings clearly shows that it was recorded that during the course of survey, the assessee was not able to offer any plausible explanation for the sum ..... X X X X Extracts X X X X X X X X Extracts X X X X
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