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2010 (5) TMI 464 - AT - Income TaxBlock assessment proceedings - AO did not found any undisclosed income from the seized record of the persons searched, but he has initiated the block assessment proceedings just to examine the veracity of the creation/source of investment - block assessment proceedings can be initiated only for assessment of undisclosed income found as a result of search and not for the verification of capital accretion or source of investment - observation not tenable in view of the decision of the Hon’ble Supreme Court in the case of Manish Maheshwari [2007 (2) TMI 148 - SUPREME COURT OF INDIA] wherein held that satisfaction must be recorded by the AO that any undisclosed income belongs to any person other than the person with respect to whom search was made u/s 132 of the Act - matter remanded to regular Bench for deciding the appeals in conformity with the opinion of the majority
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