https://www.taxtmi.com/highlights?id=63454 Protective addition made in the hands of the assessee - income surrendered by the assessee in the sworn statement - the surrender was not blanket surrender as presumed by the tax authorities. We also noticed that the surrender was couched with various caveats. In any case, the surrender of income without any basis is against the circular issued by CBDT . We also noticed that the assessee has explained later before the AO that the capital gain was in his mind while making surrender. - Additions deleted - AT en-us Sat, 14 May 2022 08:38:22 +0530 Sat, 14 May 2022 08:38:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=63454 Protective addition made in the hands of the assessee - income surrendered by the assessee in the sworn statement - the surrender was not blanket surrender as presumed by the tax authorities. We also noticed that the surrender was couched with various caveats. In any case, the surrender of income without any basis is against the circular issued by CBDT . We also noticed that the assessee has explained later before the AO that the capital gain was in his mind while making surrender. - Additions deleted - AT Highlights Income Tax Sat, 14 May 2022 08:38:22 +0530 https://www.taxtmi.com/highlights?id=63454