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2010 (12) TMI 966 - HC - Income TaxSearch and seizure - Undisclosed income - Revenue contended that transaction recorded in seized diary had not been duly accounted for in the books of account of the assessee - Held that:- Tribunal rightly remanded back the file to AO on ground that merely on the ground that cheques were found entered in the diary, which was actually not received or recorded in regular book on subsequent date, cannot be made the basis for making the addition, unless some contrary material is found by the department. ITAT had observed that each cheque number, date of clearing and the name of the party from whom cheque was received was noted in the diary were duly found to be entered in regular books. Merely because there was some difference in the date of actual realization of cheques or actual sending cheques by the customers as compared to the date on which customers have assured for sending such payment, cannot be made the reason for treating the same as unaccounted income of the assessee - Decided against the Revenue
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