2011 (10) TMI 28

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....e alternate arrangements. On the last occasion, the said representative expressed the inability of the appellant to engage any other advocate to argue the case on behalf of the appellant. In these circumstances, we requested Mr.Subhash Shetty to assist the Court as amicus curiae, which he readily agreed. Accordingly, the matter was adjourned so as to enable Mr.Shetty to go through the file and take necessary instructions from the representative of the assessee.   2. Today, we have heard Mr.Shetty for the appellant and Mr.Suresh Kumar for the Revenue. The appeal is admitted on the following substantial question of law.   "Whether the Income Tax Appellate Tribunal was right in law in confirming the addition of Rs.3,18,24,076/o....

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....led along with the rerevised return the assessee sought to retract the statements recorded during the course of survey action. The rerevised return filed on 15th January 2003 could not be obviously entertained once the revised return filed on 26th December 2002 was processed on 13th January 2003.   6. Thereafter, a notice was issued under Section 143(2) and assessment order under Section 143(3) was passed on 30th May 2003, wherein the retracted statement of the assessee was disbelieved and the amount of Rs.3,18,24,076/offered in the revised return was accepted. The assessing officer further disallowed Rs.7,53,103/being the provident fund dues paid by the assessee belatedly. Challenging the aforesaid order, the assessee filed an appe....

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....he addition of Rs. 3,18,24,076/.   9. On careful consideration of the rival submissions, in our opinion, the challenge to the addition of Rs.3,18,24,076/cannot be sustained. In the present case, though the assessee initially claimed depreciation of Rs. 4,31,96,085/, the assessee admitted during the course of survey that the computer software and hardware has not been purchased by the assessee and the assessee itself filed revised return wherein the claim towards depreciation amounting to Rs.3,18,24,076/was withdrawn and the said amount was offered to tax. Although the assessee has filed an affidavit retracting the statement recorded during the course of survey, there is no material on record to show that the computer software and co....