9911796707
TMI Blog2023 (8) TMI 1062X X X X Extracts X X X X X X X X Extracts X X X X ..... m professional receipts which might not have been accounted for. Central Board of Direct Taxes has also issued instructions that the Income Tax Authorities at the time of survey/search action should not harp upon taking surrender/confession statements, rather they should collect the evidences relevant to unaccounted/unexplained income and that the additions should not be based merely on by obtaining surrender statements. Surrender statement has been obtained and there is no evidence nor any allegation of the Survey Party that the assessee had income from any other source. In fact, no such income has been found during the survey action. However, the assessee to keep his promise, has offered for taxation the surrendered additional profe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 61. 2. That the Worthy Commissioner of Income Tax (Appeals) - V, has erred in upholding the contention of Assessing Officer by not allowing depreciation claim on the said Building. 3. That the Worthy Commissioner of Income Tax (Appeals) - V, has erred in upholding an addition of Rs. 2,11,600 on account of addition in the value of Building based on the valuation report of the Department valuer. 4. That the Worthy Commissioner of Income Tax (Appeals) - V, has erred in upholding the action of the Assessing Officer by treating the Business Income surrendered Rs. 30,00,000 chargeable to tax under Section 115BBE @ 60 percent instead of Normal Tax Rate. 5. The appellant craves leave to add, alter, amend or delete any of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section. 133A). Dear Sir, It is submitted that I am veterinary Doctor doing private practice. My premises at Sarabha Nagar and Passi Chowk, Sua Road were surveyed by Income Tax deptt. On 4/10/2017. I am a good Doctor but I am bad in maintenance of records and books of account. I receive my fees and sale proceeds in cash. The possibility of these business/professional receipts remaining untaxed cannot be ruled out. The building at passi chowk, sua road, has been build from business/professional receipts only as I have no other source of income. There is non-maintenance/improper maintenance of books/records. I am law abiding peace loving citizen and do not want to enter into litigation with the deptt. And wish ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... received from professional receipts which might not have been accounted for. The Central Board of Direct Taxes has also issued instructions that the Income Tax Authorities at the time of survey/search action should not harp upon taking surrender/confession statements, rather they should collect the evidences relevant to unaccounted/unexplained income and that the additions should not be based merely on by obtaining surrender statements. However, in this case, the surrender statement has been obtained and there is no evidence nor any allegation of the Survey Party that the assessee had income from any other source. In fact, no such income has been found during the survey action. However, the assessee to keep his promise, has offered for tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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