2015 (6) TMI 1273

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....filed by the Revenue against the order dated 27/04/2012 passed by the learned CIT (A)-III, Jaipur for A.Y. 2009-10. The effective grounds of appeal are as under:- "i The CIT(A) has passed a perverse order in concluding that telescoping was to be necessarily allowed suo moto by the A.O. even when the burden of proving its eligibility was on the assessee. ii. The CIT(A) has thus erred in deletin....

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....Rs. 21,00,557/- during the course of survey proceedings on account of excess cash found. The total disclosure including cash as per statement was Rs. 1,51,17,149/-. After taking the advantage of telescopic of undisclosed income with undisclosed payment the net amount, the assessee had shown returned income of Rs. 1,20,19,449/-. The Assessing Officer gave reasonable opportunity of being heard and w....

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....ecorded transactions were found to the first three months of financial year 2008-09. Therefore, unaccounted transactions were found to only for the period of the first three months. There is no evidence with the revenue that the assessee unaccounted income of Rs. 30,95,700/- from Sayyed Colony scheme, has been invested or spent in any other manner, then the claim made by the assessee, in this rega....

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.... surrendered income of Rs. 1,20,19,449/- only inasmuch as the assessee claimed telescoping of the unaccounted investment in house of Rs. 21,00,000/- and unaccounted cash to the extent of Rs. 9,97,700/-, out of the total cash found, against the unaccounted income of Rs. 30,97,700/-, being the income earned and offered in respect of Sayyed Colony Scheme, Tonk. He relied on the following case laws: ....