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TMI Blog2023 (6) TMI 1130X X X X Extracts X X X X X X X X Extracts X X X X ..... come with that of the business income of the assessee. We find that the assessee is already in high tax bracket and there is no need for him to split the profits between him and his wife. Hence, there is absolutely mala fide [sic] on the part of assessee. No contrary evidence to this fact has been brought on record by the Revenue, except relying on statement recorded during survey proceedings. Thus action of the lower authorities in clubbing the business income of assessee s wife with that of the assessee is dismissed. Decided in favour of assessee. - ITA No. 3375/Del/2019 - - - Dated:- 23-6-2023 - Shri Saktijit Dey, Vice President And Shri M. Balaganesh, Accountant Member For the Appellant Versus Sh. Hemant Arora, CA, Sh. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... she stated that she is not aware of any such business being done in her name and its her husband, Sh. Kamal Batra (assessee herein), who is aware of the business of trading of bidis. Accordingly, a notice under section 148 of the Act was issued to the assessee on 31.03.2017. In the reassessment proceedings, based on the survey statement, the learned Assessing Officer proceeded to club the business profit disclosed by Sh. Sonia Batra in her individual Income Tax Return filed on 18.09.2010 for assessment year 2010-11 in the sum of Rs. 5,53,535/-, with the income of the assessee. This action of learned AO was upheld by learned CIT(A). 3. We find that both the assessee as well as his wife Smt. Sonia Batra were carrying on business of tradin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ddresses with that of the assessee and more especially when she had offered the business income from trading of bidis in her individual capacity in her income tax returns, it would be unfair to club her income with that of the business income of the assessee. In any case, we find that the assessee is already in high tax bracket and there is no need for him to split the profits between him and his wife. Hence, there is absolutely mala fide on the part of assessee. No contrary evidence to this fact has been brought on record by the Revenue, except relying on statement recorded during survey proceedings. It is trite law that the statement recorded during survey proceedings does not have any evidentiary value. Reliance in this regard is place ..... X X X X Extracts X X X X X X X X Extracts X X X X
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