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2011 (8) TMI 764 - HC - Income TaxUndisclosed Income - Block Assessment - The assessing authority though acted on the diaries seized during search has disputed the entries in the said book. If he wants to act on the books and hold that the assessee is liable to pay tax, he cannot accept one portion of the book and refuse to accept the other portion. Either he should take the entire book as a whole and reject it as a whole. Therefore the Tribunal was justified in relying on the account books which is the subject matter of block assessment proceedings. Bad Debt - As per Section 36(1)(vii) the obligation to prove debt is bad and producing evidence is not required.
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