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TMI Blog2018 (6) TMI 1668X X X X Extracts X X X X X X X X Extracts X X X X ..... ck found as additional income. Be that as it may but in our considered opinion, no addition is called for in respect of short cash found at the time of survey in the facts and circumstances of the present case and hence, we delete the same. - Appeal of assessee allowed. - ITA No. 1722/Bang/2018 - - - Dated:- 28-6-2018 - SHRI SUNIL KUMAR YADAV, JUDICIAL MEMBER AND SHRI ARUN KUMAR GARODIA, ACCOUNTANT MEMBER For the Appellant : Shri H.N. Khincha, CA For the Respondent : Shri Tshering Ongda, JCIT ORDER Per Shri A.K. Garodia, Accountant Member This appeal is filed by the assessee and the same is directed against the order of ld. CIT(A), Hubballi dated 19.03.2018 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ied also be deleted. 3. It was submitted by ld. AR of assessee that in para no. 5 on page nos. 2 3 of the assessment order, it is noted by the AO that the survey was conducted u/s. 133A of IT Act on the assessee s premises on 19.12.2013 and during the course of survey proceedings, it was noted that cash balance as per books of accounts on the date of survey was found ₹ 1,82,527/- whereas no cash was found on the date of survey. He submitted that AO has made addition of this short cash found on the date of survey which is not justified and therefore, it should be deleted. The ld. DR of revenue supported the orders of authorities below. 4. We have considered the rival submissions. First of all, we reproduc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9,52,000/-was not accounted for on the date of survey. However, to avoid protracted litigation and co-operate with the department, I offer the difference of ₹ 24,10,868/- as additional stock of the firm apart from the normal income of the firm for the F Y 2013-14 relevant to the assessment year 2014-15. 5.1 Survey declaration : - On verification of the return of income along with schedules for the A Y 2014-15 along with profit loss account and balance sheet, it is noticed that the assessee firm has declared additional income of ₹ 24,20,000/- in the P L account whereas, cash in hand of ₹ 1,82,527/- has not been offered for the A Y 2014-15. This was put forth to the assessee's authorized representative ..... X X X X Extracts X X X X X X X X Extracts X X X X
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