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2012 (4) TMI 649 - AT - Income TaxAssessment under section 153C - Held that:- The determination of undisclosed income consequent to search action and framing assessment under section 153C of the Act is different from regular assessment or it is not substitute for regular assessment. Being so, the AO shall frame assessment on the basis of incriminating material found during the course of search action under sec. 153C of the Act. The AO without bringing any incriminating material on record for the purpose of determination of undisclosed income on estimate basis is not possible in the present circumstances to frame the assessment under section 153C of the Act. Therefore,, after considering the totality of facts and the circumstances of the case and after going through the order of the CIT (A) in the instant case, we find the CIT (A) is perfectly justified in allowing the claims of the assessee.
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