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2010 (1) TMI 767 - AT - Income Tax
Addition made in subject assessment u/s 153A - Block assessment - held that:- since for all the assessment years in consideration, processing returns under section 143(1)(a) stood completed, for returns filed in due course before search, and no material being found in search thereafter, no addition can be made for agricultural income, gifts, unexplained deposit.
Addition on account of unexplained/unaccounted loan - held that:- after analysing the subject document carefully, recovered from search, we are of the view that same does not bear signature of the assessee nor Mohani Sharma (alleged borrower) has Smt. Mohani Sharma been ever examined by the authorities below. Therefore, it lacks corroboration and cannot be made the sole basis to make subject additions.