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2011 (11) TMI 491 - HC - Income TaxBlock assessment - Search and seizure - suppression of receipts towards the three contracts and finding of incriminating material - Tribunal annulled the order passed u/s 158 BD - Held that:- Wherefore, in the absence of actual documents which were incriminating against the assessee for having undisclosed income, there was no material whatsoever to initiate proceedings against the assessee u/s 158BC r.w.s l58BD. Also, said firms which have made payment according to the Revenue, to the assessee, have deducted the tax at source and the same is intimated to the Department. Wherefore, when the Department had knowledge about the payment made to the assessee and deduction of tax made at source the said income cannot be said in be undisclosed. Further as no returns were filed in the block period, material on record reveals that returns have been filed in the block period. Therefore, tribunal has rightly annulled order passed u/s 158BD - Decided in favor of assessee.
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