Additions on the basis of incriminating material obtained during survey is justified

DCIT Vs Neeraj Agrawal (ITAT Allahabad) ITAT Allahabad held that additions made based on the incriminating material (being excess stock) found during survey conducted u/s 133A of the Income Tax Act is justifiable. Facts- The assessee is engaged in the trading business of Trading & Manufacturing Silver Jewellery and trading gold jewellery under the name and style of Raj Shree Jewellers, and assessee also runs Cinema Hall in the name and style of Rajshree Palace, Mirzapur. The assessee e-filed return of income on 15th September 2012 declaring a total income of Rs. 30,31,050/- from aforesaid ...