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TMI Blog2022 (2) TMI 79X X X X Extracts X X X X X X X X Extracts X X X X ..... iled revised return, which was declared as non est. Thereafter, the assessee again filed a return pursuant to notice u/s 148 and suo motu offered additional income. Once the income was offered in the return, the same could not have been treated as cash credit u/s 68 or unexplained investment u/s 69 - The position would have been different if the assessee had not offered additional income in his re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ni ORDER PER R.S.SYAL, VP : These two appeals by different but connected assessees arise out of separate orders passed by the CIT(A) on 27-01-2021 in relation to the assessment year 2011-12. 2. The facts in the case of Saket Chakor Shah are that the assessee is an individual who filed his return declaring total income of ₹ 1,73,077. The return consisted of income from cond ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 148 of the Act. The assessee furnished the return in response to such notice declaring the same income as was offered in the revised return declared non est by the Revenue. The AO completed the assessment with the income of ₹ 48.73 lakhs declared in the return in response to notice u/s 148 of the Act, but treating the additional income as the one u/s 68 of the Act attracting higher rate of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ditional income in his return and the AO had made the addition. That case would have justified roping in of sections 68 or 69 etc. Since the assessee admittedly offered the income in his return pursuant to notice u/s 148 of the Act, which has been accepted by the AO as such, in my considered opinion, the ld. CIT(A) was not justified in countenancing the action of AO in treating additional income a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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