2010 (1) TMI 948

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....engaged in the business manu- facture of maida, flour (atta), suji, etc. A survey of the respondent business premises was carried out under section 133A of the Income-tax Act on December 26, 2001. During the survey carried on in the business premises of the assessee on December 26, 2001, two slips were found mentioning about the sale of bardana of Rs. 10 lakhs (rupees ten lakhs). The assessee surrendered the said amount for taxation. Further, cash of Rs. 10 lakhs (rupees ten lakhs) was found from the office premises during the survey, which was also offered for taxation. Before the Assessing Officer, the asses- see explained that the note relating to the sale of bardana of Rs. 10 lakhs (rupees ten lakhs) found in the office premises was not....

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.... the entry in two loose papers found during the survey and the Tribunal com- mitted further error in affirming the deletion of Rs. 10 lakhs (rupees ten lakhs) by the Commissioner of Income-tax (Appeals) in respect of cash found during the course of survey. 5. After hearing learned counsel for the appellant and on a perusal of the record, we find that the plea raised by the appellant-Department has already been dealt with by the Tribunal in detail. In the loose paper found during the survey, the sale of old bardana of Rs. 6.50 lakhs on December 22, 2001, and Rs. 3.50 lakhs on December 24, 2001, totalling Rs. 10 lakhs was mentioned. The Tribunal has found that this sale of bardana was entered in the books of account on December 27, 2001, a....