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1 - 5 of 5 (0.46 seconds)P. Govindaswamy vs Commissioner Of Income-Tax on 27 April, 1998
2. The assessee is a Coaching Centre. During the
course of survey, the assessee surrendered additional income
and also filed revised return accordingly. The Assessing Officer
accepted the revised return made by the assessee but also
initiated penalty proceedings. Thereafter, penalty was also levied
on the assessee which was upheld by the CIT(A) following
judgment of the Madras High Court in P. Govindaswamy v. CIT
{2000} 244 ITR 510. Therein, it was held that since under
Section 58 of the Evidence Act, 1872, admitted facts need not be
proved, once the assessee made surrender, it could be taken to
be admitted that the assessee had concealed income. On
appeal, the Tribunal set aside the above view as follows:-
Section 133A in The Income Tax Act, 1961 [Entire Act]
Section 260A in The Income Tax Act, 1961 [Entire Act]
Section 276C in The Income Tax Act, 1961 [Entire Act]
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