9911796707
TMI Blog2015 (5) TMI 1193X X X X Extracts X X X X X X X X Extracts X X X X ..... as per AO this income was from undisclosed sources over and above the business income for the particular year - HELD THAT:- The amount of 4 lacs disclosed during the course of survey was on the basis of excess stock found and loose papers relating to business found during survey operation. Thus, both these aspects on the basis of which disclosure was made were relating to the business of the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rm deriving income from wholesale and retail business of sarees and cloth. The return of income was filed on 27.10.2006 declaring income at ₹ 2,51,048/-. A survey u/s. 133A of the Act was conducted by the department at the business premises of the assessee on 26.10.2005 wherein the assessee surrendered an amount of ₹ 4 lacs on account of excess stock and loose papers found during surve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of ₹ 4 lacs disclosed during the course of survey was on the basis of excess stock found and loose papers relating to business found during survey operation. Thus, both these aspects on the basis of which disclosure was made were relating to the business of the assessee. Whatever income was declared was related to the business of the assessee and it was assessee's business income. The asses ..... X X X X Extracts X X X X X X X X Extracts X X X X
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