Itl/17/2010 Of The Commissioner Of Income Tax-Ii, Nagpur v. Smt. Suruchi Dinesh Agrawal, Nagpur

IN THE HIGH COURT OF JUDICATURE AT BOMBAYNAGPUR BENCH AT NAGPUR Income Tax Appeal No.17 of 2010 (Commissioner of Income Tax-II, Nagpur .vs. Smt. Suruchi Dinesh Agrawal, Nagpur) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Office Notes, Office Memoranda of Coram, Court's or Judge's ordersappearances, Court's orders of directionsand Registrar's orders - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Mr.Anand Parchure, Adv. for the appellant. CORAM : B.P.DHARMADHIKARI & A.P.BHANGALE, JJ. DATE: 16.2.2015. Heard. The ITAT in appeal has found that the assessee surrendered certain income during search and the said income has been included in the return of Income Tax filed subsequently and also accepted by the A.O. It has also highlighed a finding of fact recorded by the CIT (Appeals) that the said income had been incorporated in the Books of Account before close of financial year. Effort is to take recourse to explanation 5 to Section 271 (1)(C) of the Income Tax Act, 1961. The said explanation contemplates generation of assets through income of previous years. In the present facts, the surrendered income is demonstrated to be for the year in which search was conducted and has also been accordingly shown in the Books of Accounts and accepted by the A.O. jaiswal No substantial question of law, therefore, arises. The appeal is rejected. JUDGE JUDGE