2018 (9) TMI 803

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....MAUNA M BHATT, Advocate COMMON ORDER (PER : HONOURABLE Mr. JUSTICE AKIL KURESHI) These Tax Appeals filed by the Revenue give rise to similar question, in a similar background. We may, therefore, refer to the facts arising in Tax Appeal No. 1099 of 2018. The Revenue has challenged the judgment of the Income Tax Appellate Tribunal, Rajkot Bench, Rajkot ["Tribunal" for short] dated 4th Ja....

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....res [rounded off] in the income of assessee with an aid of Section 68 of the Income-tax Act, 1961 ["the Act" for short], out of which Rs. 36.50 lakhs was relateable to disclosures made by the assessee during the survey operations. The assessee carried the matter in appeal. CIT [A] deleted much of the additions and retained only a smaller portion, upon which the assessee carried the matter in appea....

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....e banking channel. There was thus no cash element or scope of any cash transactions. She was maintaining her books of account which were duly audited. During the survey, the Revenue authority had a chance upon some such papers in which jottings were made by the employees with regard to financial details with the assessee. They merely contain certain receivable amounts from the customers which coul....