TaxTMI 
TaxTMI 
2018 (2) TMI 1990
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....eenivasan, JCIT ORDER N.R.S. Ganesan, This appeal of the assessee is directed against the order of the Commissioner of Income Tax (Appeals)-2, Chennai, dated 05.02.2016 and pertains to assessment year 2008-09. 2. The only issue arises for consideration is addition made by the Assessing Officer under Section 69C of the Income-tax Act, 1961 (in short 'the Act'). 3. Shri Y. Sridhar, th....
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....ure is the business of the assessee, therefore, the provisions of Section 69C of the Act is not applicable at all. The Assessing Officer made addition only on imagination. According to the Ld. representative, the Assessing Officer while completing the assessment, considered the additional income offered by the assessee during the course of survey operation and the assessee was allowed to set off t....
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.... the Ld. representative, the assessee has disclosed entire facts required for completing the assessment, including the books of account, therefore, the expenditure found in the books of account cannot be added as income of the assessee. The Ld. representative further submitted that Section 115BBE of the Act was introduced with effect from 01.04.2013, therefore, it is not applicable for the assessm....
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....n respect of unexplained expenditure. Therefore, according to the Ld. D.R., the CIT(Appeals) has rightly confirmed the order of the Assessing Officer. 6. We have considered the rival submissions on either side and perused the relevant material available on record. During the course of survey operation, the assessee offered additional income of Rs.75,00,000/- which was disclosed in the revised ret....