TMI Blog2022 (9) TMI 1249X X X X Extracts X X X X X X X X Extracts X X X X ..... wards expenditure against a sum declared during the course of survey. The assessee is an Advocate aged 65. The amounts disclosed as unaccounted professional income is admittedly gross receipt and not net. A.O. himself has allowed 25% towards expenditure out of amount disclosed as unaccounted professional receipts. The fact the assessee had declared only gross undeclared professional receipts is also evident from the A.O. s and CIT(A) s order. Assessee had disclosed gross undeclared professional income and A.O. estimated 25% of the expenditure incurred for earning the same. Section 44ADA permits a professional like the assessee to compute his total income on presumptive basis wherein 50% of the expenditure is allowed as deduction towards ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... against CIT(A) s order dated 23.05.2022. The relevant assessment year is 2017-2018. 2. The grounds raised read as follows : - 1. The order of the Hon ble Commissioner of Income Tax (Appeals)-2, Panaji, is opposed to law and facts of the case. 2. The Hon ble Commissioner of Income Tax (Appeals)-2, Panaji, ought to have held that the statements recorded during the survey was under duress and hence has no evidentiary value. 3. The Hon ble Commissioner of Income Tax (Appeals)-2, ought to have held that the figures noted in the diary are not based on any material / evidence on record, therefore, no additions can be made on the basis of the imaginary figures noted in the diary. 4. Alternatively and without prejudice, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,300 disclosed during the course of survey on account of unaccounted professional receipts. The assessee had claimed the expenses at 50% in view of the provisions of section 44ADA of the I.T.Act, and thus, worked out the additional income at Rs.34,67,150. 4. The A.O., however, rejected the contentions of the assessee. The A.O. held that the gross professional receipts of the assessee during the relevant previous year exceeded Rs.50 lakh and therefore, the provisions of section 44ADA of the I.T.Act is not applicable. The A.O., however, allowed the deduction of 25% towards the expenses out of the total undisclosed professional income disclosed by the assessee and concluded the assessment. 5. Aggrieved, the assessee filed an appeal befor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... towards expenditure against a sum of Rs.69,34,300 declared during the course of survey. The assessee is an Advocate aged 65. The amounts disclosed as unaccounted professional income is admittedly gross receipt and not net. The A.O. himself has allowed 25% towards expenditure out of amount disclosed as unaccounted professional receipts. The fact the assessee had declared only gross undeclared professional receipts is also evident from the A.O. s and CIT(A) s order. The CIT(A), in the impugned order at para 4.2 has observed as follows:- During the course of survey, certain documents were found which pointed to undisclosed income of the assessee during the year under consideration. Pages 01 to 03 of the impounded diary VRD-4/2017-18, s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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