assessment proceeding, the
Assessing Officer on 14.02.2014 noticed that the assessee
retracted the surrender made of Rs.5 crore as a result of search
proceeding ... surrendered
amount by Rs.13.4 crores (18.34 - 5). There is no case to support such
disallowance over and above what was surrendered and retracted
made, the
same could be retracted. The Ld. DR, on the other hand,
has stated that the retraction of surrender after long time
gap cannot ... later on retracted. The basis
for retraction having been explained and found to be
reasonable enough by us, we hold the retraction to be
valid
upholding the addition of Rs. 20.00 lacs for the surrender retracted which is
even dehors the material on record for which the findings have ... upholding the addition of Rs. 16.00 lacs for the surrender retracted which is
even dehors the material on record and even for the pleadings advanced
lakhs on account of on-
money received, he could not have retracted his surrender and
accordingly added difference of Rs.26 lakhs to the income ... surrender made by
demonstrating that properties sold by it were actually less than that
disclosed in the surrender. Therefore, this retraction
assessment proceedings, dated 16.12.2009, retracted from
the same. The reason for the retraction were that :
a) The surrender was obtained by coercion.
b) The family ... made, the
same could be retracted. The Ld. DR, on the other hand,
has stated that the retraction of surrender after long time
gap cannot
warranted any such surrender. Accordingly, return of
income was on 27.09.2012 without including any such surrendered amount,
thereby formally withdrawing/retracting from the surrender erroneously ... include the above surrendered amount of Rs.10 crores.
Withdrawal retraction of erroneous surrender, with repeated requests to AO
to undertake complete/ independent verification
pages 173 to 256 of the Judgement Set, wherein, surrender was
made and it was retracted only during the course of assessment
proceedings when ... 2025
i). It is submitted that, though, the assessee had retracted the surrender
made in the sense that while filing the return of income
pages 173 to 256 of the Judgement Set, wherein, surrender was
made and it was retracted only during the course of assessment
proceedings when ... 2025
i). It is submitted that, though, the assessee had retracted the surrender
made in the sense that while filing the return of income
made available that these
many mistakes were noticed and hence surrender made was
retracted ... assessee re aliz ed that
in case the surrender is not retracted then the Sundry Debto
shots for
Sh. Raghbir to refuse them co-operation.
-Discussion on retraction of surrendered income of
Rs.20,00,00,000/-.
2.8 All objections ... assessee as discussed above, are with the intention to justify the retraction
of surrender. In order to bring out the fallacy of the argument
