COMMISSIONER OF INCOME TAX Vs. N.W.W.

JUDGEMENT

(1.) THE Revenue has preferred this appeal under Section 260A of the Income Tax Act, 1961 (for short, "the Act") against the order of the Income Tax Appellate Tribunal, Amritsar Bench, Amritsar, dated November 27, 2008, passed in I.T.A. No. 109(ASR)/2008 (Deputy Commissioner of Income Tax, Circle -II, Bhatinda v. N.W.W., Bhagat Singh Chowk, Abhor), for the assessment year 2004 -05, proposing to raise the following substantial questions of law:

(2.) A survey was conducted under Section 133A of the Act on December 4, 2003, at the premises of the assessee. In pursuance thereof, the assessee made a surrender with condition that there will be no penalty or prosecution. It has been found by the Commissioner of Income Tax (Appeals) as well as the Tribunal that the surrender was accepted. However, the Assessing Officer added taxable income over and above the surrendered amount, which was deleted by the Commissioner of Income Tax (Appeals) as well as by the Tribunal.

(3.) LEARNED Counsel for the appellant submits that the finding of the Commissioner of Income Tax (Appeals) as well as the Tribunal is against the record and there was no acceptance of the surrender and the Assessing Officer was justified in making the addition, over and above the surrendered income.