Survey

Undisclosed income — The retraction of the statement made in the survey after six months of disclosing undisclosed income, on the ground of the use of force, held to be an afterthought since the assessee failed to complain to higher authorities immediately after the survey, as held by MumTrib in Synthetic Colour Chem Industries v Dy CIT — In favour of: The revenue.

Accounts — In case parts of the entries in the books of accounts were found to be correct, the remaining part could not be rejected as incorrect.

Decided on: 11 May 2011.