ITAT confirms addition of Income offered for Taxation during Survey by Assessee which was not retracted

Apex Realities Vs ITO (ITAT Indore)

We find that during the course of survey, it was found that assessee had made the cash payment of Rs. 70,00,000/- to the land owners against the purchase of their land. The date of registry was 22/01/2015 and during the course of survey, it was found that there was no cash available on 22/01/2015. A statement of Shri R. C. Mittal, Partner of the Firm was recorded wherein Shri R. C.Mittal admitted an additional income of Rs. 70,00,000/- on this account. During assessment proceedings, a deta

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