Addition Unwarranted as Settlement Commission Accepted Surrendered Amount

ACIT Vs Shyamsunder R. Agrawal (ITAT Ahmedabad)

ITAT Ahmedabad held that addition towards unexplained expenditure unsustainable as impugned amount has already been surrendered by the firm and accepted by the Settlement Commission.

Facts- The assessee, is partner in a partnership firm. Search operation u/s. 132 of the Act was conducted at the residential premises of the assessee, and simultaneous survey operation u/s. 133A of the Act was carried out at the business premise

Please become a Premium member. If you are already a Premium member, login here to access the full content.