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2010 (8) TMI 741 - HC - Income TaxSearch - block assessment - addition made on account of unexplained investment in property by the assessee deleted by ITAT - Held that:- As the addition made by the AO is solely based upon the report made by the District Valuation Officer, which cannot be stated to be material found during the course of search. No other material had been found at the time of search to indicate that the assessee had spent any amount in excess of what had been recorded in the books of account regularly maintained by it. In the circumstances, without going into the question of the validity of the reference made under section 131(1)(d) of the Act to the District Valuation Officer, as has rightly been held by the Commissioner (Appeals) the issue would not relate to block assessment in the given set of facts and as such the addition in question was beyond the scope of the block assessment - no legal infirmity can be found in the impugned order of the Tribunal so as to warrant interference.
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