2017 (3) TMI 1709

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....ncome Tax Appellate Tribunal, Lucknow Bench 'A', Lucknow in ITA No. 392/Luc/2005 for the Block Period 1.4.1996 to 13.09.2002. 3. Appeal was admitted on the following substantial question of law: "Whether the Tribunal as Appellate Authority had committed substantial illegality in not considering the surrendered undisclosed income of Rs. 80.00 lacs for the purpose of tax on the basis of material on record"? 4. Learned counsel for the parties at the out set admitted that aforesaid question was formulated founded on the statement of Assessee made during search and seizure operation conducted on 13.09.2002. Record shows that a search and seizure operation was carried out at the business and residential premises of S.K.D. Group und....

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....business is the source of Rupees Five Lakh Fifty Thousand out of Rs. 5,67,916/- found at my house, investments in jewelery and immovable assets, the undeclared expenditure made by me against all the aforesaid items and day to day undeclared expenses; I declare my undeclared income from coaching business as Rs. Seventy Four Lakh Fifty Thousand (Rs. 74,50,000/-). In this manner, I admit undeclared income as Rs. Eighty Lakh in aggregate. This undeclared income includes all that undeclared income of mine which is found in the documents recovered at my residence, my coaching institute and Prince Complex and the jewelery which is kept in Punjab National Bank in the name of my wife, in Dena Bank in the name of my son Manish Singh and in P....

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....0 4,01,17,750 9,00,82,250 7. Assessee preferred Appeal being aggrieved by aforesaid order before Commissioner Income Tax (Appeal)-III, Lucknow (hereinafter referred to as "CIT (A)"). 8. It is urged by Assessee that Assessing Officer's computation of fees on the basis of aforesaid fees and number of students was not based on any material found during course of search. In fact during course of search department was able to find material evidence for undisclosed income of Rs. 4,37,000/- for FY 2001-02 and Rs. 17,15,000/- for FY 2002-03 only hence there was no evidence for mentioning of number of students and amount of fees for the aforesaid two FY and other years included in block period. In this backdrop, CIT(A) held, since As....

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....्तकें उपलब्ध नहीं हैं, तदनुसार मैं यह भी स्वीकार करता हॅू कि मेरे पास दिन प्रतिदिन सम्पत्तियों पर किये गये पूँजी निवेश के साक्ष्य एवं आधार इस ....

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....¥‹à¤·à¤¿à¤¤ खर्चे किये गये हैं, मैं अपनी कोचिंग के कार्यों से अघोषित आय रूपये चौहत्तर लाख पचास हजार ( रू0 74,50,000/-) घोषित करता हूँ, इस प्रकार मैं कुल अस्सी लाख à....