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2012 (4) TMI 478 - HC - Income TaxBlock assessment - Search and seizure - Undisclosed income - Assessing Officer issued a notice under Section 158 BC of the Act on 11.03.1997 directing the assessee to furnish return of income in Form -2B for the block period 1987-88 to 1997-98 - In addition to the above sum of Rs.75 lakhs, the assessee also paid another sum of Rs.25 lakhs to AIADMK on 13.07.1995 as is evidenced by the statement of his Bank Account - it is an undisputed fact that the assessee would have generated more than Rs.7,73,250/- for the 10 assessment years during the period 1987-88 to 1997-98. Hence the assessee would not have earned any amount from undisclosed source - Held that: it is clear that the Tribunal had given a finding that the assessee had established the source of fund from where it was collected and the collected money was given to the AIADMK head quarters for Building Fund - Decided in favor of the assessee
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