Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2007 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2007 (5) TMI 608 - DELHI HIGH COURTAddition on Undisclosed income - Notice u/s 158BC - search and seizure operation u/s 132 - found incriminating documents - Whether order passed by the AO u/s 143(3) r.w.s 158BC - HELD THAT:- In the present case, during the search, only ownership papers of the property were found and seized. No other incriminating document was found which may show that there was understatement of the purchase consideration or the cost of improvement. The papers with regard to the ownership will always be found with the owner and finding of such documents does not lead to any inference that either the purchase consideration or the cost of improvement has been understated. Since no document was found in the course of search leading to any adverse inference about the understatement. Thus, no computation of undisclosed income could have been made by resorting to the provisions of Chapter XIV-B of the Act. Hence, we hold that there is no basis for making an addition on account of undisclosed income in the present case and we do not see any reason to differ with the finding arrived at by the Tribunal. No fault can be found with the view taken by the Tribunal. Thus, the order of the Tribunal does not give rise to a question of law, much less a substantial question of law, to fall within the limited purview of section 260A of the Act, which is confined to entertaining only such appeals against the order which involve a substantial question of law. Accordingly, the present appeal filed by the Revenue is, hereby, dismissed.
|