In the result the appeal of the assessee is allowed
Bench: Sh. Udayan Dasgupta & Sh. Brajesh Kumar Singh
68,888/- on account of surrendered income and on account of disallowance of personal expenses pertaining to car expenses and depreciation. In the case of MAK Data (P.) Ltd. -vs.- CIT- II, 358 ITR 593 (SC), The Hon’ble Apex Court had held that: “9. We are of the view that the surrender of income in this case