9911796707
TMI Blog2018 (11) TMI 1332X X X X Extracts X X X X X X X X Extracts X X X X ..... ctor, who was practicing in Trivandrum in various hospitals and is said to have had consultations also outside Trivandrum. The assessee was also a non-resident for a period of time. On 16.11.2000, the Department conducted a search in the premises of Sree Uthradam Tirunal Hospital, Trivandrum, where the assessee had been working between 1993 to 1998. Certain documents were recovered, which showed the remuneration paid to the assessee, which were also not returned by the assessee in full in the respective assessment years. The Department then initiated a search in the premises of the assessee on 18.12.2000 under Section 132 of the Income Tax Act, 1961 [for brevity, the Act]. A sworn statement was also taken from the assessee. Later, proceedin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... justified in arriving at a finding of undisclosed income based on evidence that was not recovered from the appellant's premises during the search under Section 132 of the IT Act? 2. Whether the Hon'ble Tribunal was right in law and on facts in upholding the findings of the assessing authority and the CIT(A) on the issue of undisclosed income more so when there was no material obtained during the search at the appellant's premises that would justify an assessment under Section 158BC? 3. Ought not the Hon'ble Appellate Tribunal to have found that there was no legal basis for entering a finding against the appellant as regards undisclosed income and that the findings entered by the lower authorities were based on pure co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion 132(4) of the Act. It is pointed out that the assessee had specifically deposed on the manner in which remuneration was agreed upon between the assessee and the SUT Hospital. The same tallied with the documents recovered from the SUT hospital. It was hence the Assessing Officer made an addition and also estimated the income on the basis of the arrangement specifically deposed on by the assessee. 7. We see the extract of the sworn statement from the assessment order produced as Annexure A in ITA No.1743 of 2002. The specific questions and answers are extracted therein. The assessee had deposed that he joined SUT Hospital in 1993 on an assurance of minimum monthly remuneration of Rs. 75,000/- per month. However, if the assessee brought i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have an evidentiary value as conferred by the statute. The sworn statement under Section 132(4) of the Act in the present case is the evidence relatable to the material or information as available with the Assessing Officer in the nature of the documents recovered from the SUT Hospital. 9. It is also pertinent that the CIT appeals had confirmed only those additions made on account of the undisclosed income from the SUT Hospital and had deleted all the other additions. There was a departmental appeal from the order of the CIT appeals with respect to the additions deleted also, but the Revenue has not chosen to challenge the order of the Tribunal allowing the appeal of the Revenue. The appeal of the Revenue was allowed only with respect to t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee. 13. As for the second question, the claim of the assessee is that he has two properties both with residential buildings, one of which is rented out and the rental income declared regularly. There is yet another property purchased; availing some loans as against which loss on income from house property is claimed. It is not clear as to why the said amounts were not claimed in the regular assessment. In fact, the Assessing Officer indicates that the income including the undisclosed income declared in the returns filed for the block period is less than that of the regular income for six years. The assessee has a contention that he can substantiate the loss on income from house property. In any event, the assessee is entitled to make such ..... X X X X Extracts X X X X X X X X Extracts X X X X
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