2012 (5) TMI 855

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....ER T.R. SOOD, A.M In this appeal the assessee has raised the following grounds: "2 That on the facts and in the circumstances and legal position of the case, the worthy CIT(A) has erred in confirming the action of the Assessing Officer wherein he had erred in making an addition of Rs. 4,00,000/- on account of alleged unaccounted cash even when the same was duly accounted in the books a....

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....has erred in confirming the action of the Assessing Officer wherein he had erred in making an addition of Rs. 10,00,000/- on account of alleged unaccounted cash payment for purchase of property even when the same was duly recorded inbooks and even further when the same was also covered within other surrender of Rs. 83.50 lakhs on account of additional income which was not credited to books of acco....

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....hs on account of deposit in the bank a nd Rs. 10.00 lakhs on account of payment against the agreement to sell were required to be telescoped. When the Assessing Officer confronted the assessee with the submissions recorded during the survey it was agreed that the gross receipts recorded in the diary amounting to Rs. 83.50 lakhs income from immigration business may be added to the income of the ass....

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....red income. 5. On the other hand, the ld. DR for the revenue referred to various portions of the submissions recorded during survey and submitted that the assessee has 3clearly surrendered these three items separately and therefore, the additions were correctly upheld by the ld. CIT(A) and in this regard he strongly relied on para 3.3.9 of the appellate order. 6. We have heard the rival subm....