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2002 (5) TMI 7 - HC - Income TaxSearch - Assessing Officer has objectively considered the material available with him and has reached a bona fide conclusion about the nature of accounts placed before him that there had been admitted sales out of account books - The day-to-day balancing has not been done. The stocks of three firms were lying in common place and their bifurcation was not possible in such contingencies to identify separate dominion of the petitioners firms on the stocks available - The exercise undertaken under section 142(2A) will be of substantial assistance and thus the case of the petitioners as stated and made out before this court falls short of making out a case wherein it cannot be said that an exercise has been taken by the respondent-Department which is not in conformity with the provisions of section 142(2A) - The writ petition having no force is dismissed.
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