Income Tax Addition on Amount already Surrendered by Partnership Firm in Settlement Application accepted by Settlement Commission: ITAT Dismisses Appeal [Read Order]

Income Tax Addition - Amount - Surrendered - Partnership Firm - Settlement Application- accepted - Settlement Commission-ITAT Dismisses Appeal-TAXSCAN

The Ahmedabad Bench of Income tax Appellate Tribunal (ITAT) held that all income relating to entries noted in the diary stood disclosed by the partnership to and accepted by the settlement commission, thus upheld the decision of Commissioner of Income Tax (Appeal) [CIT(A)] in deleting the income Tax Addition. The assessee Shyamsunder R. Agrawal is…

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