2022 (9) TMI 1249

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....law and facts of the case. 2. The Hon'ble Commissioner of Income Tax (Appeals)-2, Panaji, ought to have held that the statements recorded during the survey was under duress and hence has no evidentiary value. 3. The Hon'ble Commissioner of Income Tax (Appeals)-2, ought to have held that the figures noted in the diary are not based on any material / evidence on record, therefore, no additions can be made on the basis of the imaginary figures noted in the diary. 4. Alternatively and without prejudice, the Hon'ble Commissioner of Income Tax (Appeals)-2, ought to have allowed the expenditure as claimed by the appellant. 5. The Hon'ble Commissioner of Income-tax (Appeals)-2, ought to have held that expenditure....

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....d out the additional income at Rs.34,67,150. 4. The A.O., however, rejected the contentions of the assessee. The A.O. held that the gross professional receipts of the assessee during the relevant previous year exceeded Rs.50 lakh and therefore, the provisions of section 44ADA of the I.T.Act is not applicable. The A.O., however, allowed the deduction of 25% towards the expenses out of the total undisclosed professional income disclosed by the assessee and concluded the assessment. 5. Aggrieved, the assessee filed an appeal before the first appellate authority. Before the first appellate authority, it was contended that there is no evidence in support of the survey figures and the assessee had declared the income under pressure to coope....

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....and not net. The A.O. himself has allowed 25% towards expenditure out of amount disclosed as unaccounted professional receipts. The fact the assessee had declared only gross undeclared professional receipts is also evident from the A.O.'s and CIT(A)'s order. The CIT(A), in the impugned order at para 4.2 has observed as follows:- "During the course of survey, certain documents were found which pointed to undisclosed income of the assessee during the year under consideration. Pages 01 to 03 of the impounded diary - VRD-4/2017-18, showed amounts written against name of the assessee's clients. The assessee could not explain the nature of the same and accepted that the said receipts were received from his clients as professional fees an....