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2010 (10) TMI 808 - HC - Income TaxBlock assessment - unaccounted sales - First appellate authority took the view that the undisclosed income estimated by the Assessing Officer works out to 60 to 85 per cent of the turnover. Surprisingly, he does not state what is the basis of his adopting the turnover of the assessee for each year of the block period which are not stated in the order. - Held that:- neither the CIT (Appeals) nor the Tribunal has considered the appeal in the way they ought to have done, that is by analysing the evidentiary value of the seized documents and the statements recorded and check whether the conclusions drawn by the Assessing Officer based on the evidence is tenable or not. When there is no proper exercise of jurisdiction by the first appellate authority, particularly in a case of block assessment, where undisclosed income has to be assessed based on evidence gathered on inspection, in terms of section 158BB(1) of the Act, the recourse open to us is only to set aside the orders issued in appeal by the Tribunal and that of the first appellate authority and remand the matter to the CIT (Appeals), for fresh decision.
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