SHRI RAJENDRA KUMAR SONI,SHAJAPUR vs. THE ACIT CIRCLE 2(1), UJJAIN

ITA 79/IND/2015Status: DisposedITAT Indore14 December 2017AY 2006-076 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found that the AO ought to have verified the assessee's claim regarding the retracted surrender. Therefore, the impugned order was set aside, and the issue was restored to the file of the AO for fresh adjudication.

What were the facts?

During a survey under section 133A, the assessee surrendered an income of Rs. 25,50,731/-. However, the assessee later retracted part of this surrender in the return of income, claiming it belonged to his wife's pawning business. The Assessing Officer (AO) added back the entire surrendered amount, which was confirmed by the CIT(A).

What were the issues?

Whether the AO was justified in confirming the addition of surrendered income without verifying the assessee's subsequent retraction and claim that the income belonged to his wife.

Which sections of the Income-tax Act were involved?

Section 133A,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, INDORE BENCHE, INDORE

Before: SHRI KUL BHARAT & SHRI MANISH BORAD

For Appellant: Shri AshishGoyal& N. D. Patva, (ARs)
For Respondent: Shri K. G. Goyal Sr. DR
Hearing: 13.12.2017Pronounced: 14.12.2017

PER KUL BHARAT, J.M: This appeal by the Assessee is directed against the order of Ld. Commissioner of Income Tax(Appeals), Ujjain, Madhya Pradesh (in short ‘CIT(A)’), dated 18.11.2014 for the A.Y. 2006-07. The assessee has raised following grounds of appeal: “1.That the Learned first appellate authority has grossly erred in confirming additions of Rs.15,77,694/- made by A.O. on account of difference between the amount declared under Rajendra Kumar Soni

survey proceeding u/s 133A and income offered in the return of income which is completely wrong and unwarranted as per facts of the case and therefore all the additions made by the AO may kindly be del

The order continues below.

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