2018 (5) TMI 1349

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..... arg, Advocates Present for the Respondent: Shri A.K.Saini, AR PER: ASHOK JINDAL The appellants are in appeal against the impugned order wherein the demand has been confirmed on the basis of income surrendered before the Income Tax Authorities. 2. The facts of the case are that the appellants surrendered income amount to Rs. 60 lakhs before the Income Tax Authorities under Section 133 (a) of .....

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..... r was adjudicated, demand of duty was confirmed along with interest and the penalties were also imposed on them. Aggrieved from the said order, the appellants are before us. 3. Heard the parties and perused the records. 4. The case of the Revenue is that as the appellants have surrendered income of Rs. 60 lakhs before the Income Tax Authorities and the same has been the income earned on the good .....

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..... ustries Ltd.-2013 (294) ELT 258 (Tri.) wherein this Tribunal has held that no reason to hold that surrendered income was on account of clandestine manufacturing activity and no duty can be demanded on surrendered of income to Income Tax Department. Further, in the case of Arisudana Industries Limited vs.CCE, Ludhiana-2016 (339) ELT 258 (Tri.-Chan.), this Tribunal has examined the issue to demand d .....

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