2023 (9) TMI 212

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....rected against the order of ld. Commissioner of Income Tax (Appeals)-11, Pune ['the CIT(A)'] dated 20.02.2023 for the assessment year 2019-20. 2. Briefly, the facts of the case are that the appellant is a HUF and is engaged in the business of Hotel under the name and style of "Hotel Hill Top". The Return of Income for the assessment year 2019-20 was filed on 19.02.2020 declaring total income of R....

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....Hotel which were not accounted in the books of account, regularly maintained by the appellant. It is further revealed that during the previous year relevant to the assessment year 2019-20, a sum of Rs. 13,46,586/- was not accounted in the books of account of HUF. When this information was confronted to the managing partner of the assessee, Shri Ashish Korgaokar, who is Karta of HUF, accepted that ....

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....e present appeal. 5. The ld. AR contends that during the course of survey proceedings, the appellant offered the additional income under the head "business" and credited to the Profit & Loss Account and the same was assessed under the head "income from business". Having chosen to assess the additional income under the head "income from business", the Assessing Officer is barred to apply the provi....

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....the income offered, during the course of survey proceedings, was credited to the Profit & Loss Account and it was stated that the additional income is derived from the business of Hotel carried on by the appellant. Admittedly, the assessee had offered such additional income under the head "income from business" and the Assessing Officer also assessed the same under the head "income from business".....