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2011 (4) TMI 197 - HC - Income TaxAddition - Block assessment - Unaccounted production - Search and seizure - Tribunal had applied mutatis mutandis the decision in the case of Mohan Lal (IT/SS No. 8/CHANDI/2003) - The logic advanced is that if it is not so done it would mean that income on purely estimated basis is assessed under Chapter XIV-B of the Act, which is impermissible as per law - The Assessing Officer has estimated 50% of the sales recorded in the seized material as being unrecorded sales. Pertinently this aspect has not been disputed by the assessee - Tribunal had adopted a rational basis for determining the unaccounted production for the block period - Decided against the assessee
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