2002 (3) TMI 207

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....JUDGMENT: This appeal, filed by the Revenue, is directed against order dt. 25th Feb., 1997, passed by the CIT(A)-II, Calcutta, in the matter of order under s. 143(3) of the IT Act, 1961 (hereinafter referred to as 'the Act'), for the asst. yr. 1994-95. Revenue is aggrieved of CIT(A)'s order for deleting the addition of Rs. 4 lakhs in the hands of the assessee, even though the said addition was ....

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....tely, suggest that the appellant was found in possession of or accountable for any undisclosed income, business or transaction. The statement vide question No. 22 is evidently nothing more than a statement recorded in course of survey. Stand of the AO could have been countenenced had this statement been recorded, not in course of survey, but in course of a search and in accordance with the provisi....

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....taken to the spot from his residence to officiate on behalf of one of the directors of the company. The appellant is not a functionary of Bansi Tyres House (P) Ltd. and the primary purpose of recording the statement from him was solely in connection with the affairs of the company. Business establishment of the appellant was located at Kisangunge and it was for purposes of his own treatment that h....

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.... of income even is not binding on the assessee if he seeks to change or modify his stand subsequently. This is what is meant when it was observed that '.........An admission or an acquiescence cannot be a foundation for an assessment, where the income is returned under an erroneous impression or misconception of law. It is always open to an assessee to demonstrate and satisfy the authority concern....