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2011 (10) TMI 477 - HC - Income TaxUnaccounted investment in land - Search and seizure - CIT(A) deleted addition - Held that: Tribunal rightly deleted the addition upholding the version of CIT(A)that papers were not seized from the premises of the assessee but that of his father who had no business connection with the assessee and investment in land was not by an individual assessee but by the Non- Trading Corporation. Firstly on the settled law that no addition could be made on the basis of statement of the 3rd party. Secondly, material on record reveals that investment in the land was made by the NTCs and NTCs and the assessee both are different persons in the eyes of law. Thirdly, unless onus is duly discharged by the Revenue that the papers belonged to the assessee assurance could not be saddled with the liability of any addition in his income - Decided in favor of the assessee
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