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Claim of refund of tax paid on surrendered income during survey to buy peace

Income Tax - Direct Tax Code - DTC - By: - CA Surender Gupta - Dated:- 28-9-2016 Last Replied Date:- 30-12-1899 - Surrender of income making statement u/s 133A during survey is not a conclusive proof that there was undisclosed income. In this case, a .....

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the contention of the assessee and allowed refund of tax so paid. See:- Shri Pandoo P. Naig Versus ACIT, CC-32, Mumbai Vice-Versa And ACIT, CC-32, Mumbai Versus Prakash B. Bandarkar, Pravin B. Bandarkar, Room - [2016 (9) TMI 1062 - ITAT MUMBAI] In t .....

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s per the disclosure, the assessee would have got no chance or opportunity to claim that the disclosure made by him was under force, coercion or duress. He would have been left with no alternative than to console himself with the taxes paid in conseq .....

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, threat or coercion. Had the AO not made huge additions on the basis of the loose paper sheet trading of the figures mentioned therein as undisclosed income/profit of the assessee there might have no chance to claim the deletion of the additional in .....

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nor he had any undisclosed income or profits and further that even the declaration taken from him during his statement was under threat and pressure. We may deem it fit to mention here that the effect of force, threat undue influence or coercion dep .....

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ened with additional additions based on the figures of the one loose paper and till he gathered courage to contest the same by way of filing appeal before the Ld. CIT(A). Finally, ITAT has decided that: ….. the additional income was returned b .....

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