2020 (5) TMI 715

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.... individual assessee against the order of the ld CIT(A)-IV, Kanpur dated 05.12.2018, wherein, the ld CIT(A) has confirmed the addition of Rs. 20 lakhs on account of surrender made at the time of search u/s 132 of the of Act. 2. The assessee is an individual, derived its income from salary, business, capital gain etc. Search u/s 132 was conducted on 22.07.2015 on Golden Manor Group. During search, documents belonging to assessee were found. Notice u/s 142(1) was issued on 30.03.2017. In response to which assessee filed return on 14.8.2017 of Rs. 576240/-. 3. During the course of search father of assessee Sri. Thackur Singla surrendered Rs. 20 lacs in the hands of the assessee in statement recorded u/s 132(4) on 22.07.2015. In response ....

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....party and it does not have any evidence. The statement was retracted and therefore, could not have been relied upon by the ld AO to make the addition. He further relied upon the circular issued by CBDT as well as decision of the several courts to support his contention. 5. The ld DR vehemently supported the order of the lower authorities. He submitted that when assessee has made this surrender in fact he is in possession of the evidence of the concealed income and therefore, burden cannot be put on the ld AO to show that surrender is based on the certain evidence. 6. We have carefully considered the rival contentions and also perused the orders of the lower authorities. The fact is that the assessee disclosed a sum of Rs. 20 lacs in h....