https://www.taxtmi.com/caselaws?id=328845 The Tribunal dismissed the revenue's appeal, upholding the CIT(A)'s decision to delete additions of Rs. 55 lakhs made by the Assessing Officer. The Tribunal found that the entire income of Rs. 90 lakhs surrendered by the assessee during a survey was correctly spread over two years for tax purposes, with Rs. 35 lakhs offered in the assessment year 2007-08 and the balance in the subsequent year. The addition of Rs. 55 lakhs by the AO was deemed unjustified as there was no evidence of property sale to warrant tax on unrealized sale price. en-us Thu, 09 Jun 2016 00:00:00 +0530 Thu, 16 Jun 2016 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328845 The Tribunal dismissed the revenue's appeal, upholding the CIT(A)'s decision to delete additions of Rs. 55 lakhs made by the Assessing Officer. The Tribunal found that the entire income of Rs. 90 lakhs surrendered by the assessee during a survey was correctly spread over two years for tax purposes, with Rs. 35 lakhs offered in the assessment year 2007-08 and the balance in the subsequent year. The addition of Rs. 55 lakhs by the AO was deemed unjustified as there was no evidence of property sale to warrant tax on unrealized sale price. Case-Laws Income Tax Thu, 09 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328845