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TMI Blog2011 (6) TMI 503X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee during course of assessment showed willingness to agree for a further addition of Rs.10 lacs, which is a sacrifice from the relief granted by the first appellate authority as well as the Tribunal. We, therefore, accept the offer made by the assessee. Assessing Officer will modify the revised orders issued by limiting the relief granted by the CIT (Appeals), which is confirmed by the Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee put forward a case that substantial amount of deposit though held in the name of himself, wife and children belongs to a Trust by name Jyothi Sadanam engaged in running coaching centre for teaching Astrology and Sanskrit. In the statement recorded at the time of search, the assessee never had such a case. However the assessee's explanation that funds belonged to the Trust was accepte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g instructions informed us that the assessee is willing to agree for a further addition of Rs.10,00,000/- (Rupees ten lakhs only), which is a sacrifice from the relief granted by the first appellate authority as well as the Tribunal. Learned Standing Counsel left the matter for our decision i.e. whether to accept the assessee's offer for settlement or not. Considering the partial relief granted in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s from Rs.30,18,092/- to Rs.20,18,092/-. All other reliefs granted by the first appellate authority and the Tribunal in revised orders will stand confirmed. Revised orders will be issued at the earliest after notice to the assessee. ITA Nos.63, 125 and 126 of 2010 pertain to follow up assessments based on interest and other income in respect of investments assessed in block assessment. In view o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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