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2012 (7) TMI 532 - AT - Income TaxSearch and seizure operation u/s 132 - orders of block assessment - Held that:- The income allegedly offered by the assessee in the statement recorded u/s 132(4) should not be relied on alone by AO for making addition in the assessments which stands modified/ withdrawn, unless there is corroborative evidence linking the statement with the undisclosed /unearthed incomes - This issue was already considered twice by the ITAT when the orders were set aside earlier. AO need to complete the assessment only on the basis of incriminating material if any, after considering assessee’s explanation with reference to the papers seized and transactions/investments found by the Department. Benami Assessee - As already evidenced on record that Smt. Sushila Malge has been filing the returns much before the search and they were scrutiny assessments in her case as well. Just because her affairs are being looked after by her husband, it does not mean that she is benami. In case AO has to hold that she is benami, it should be based on evidence and burden is on the Revenue. Unless there is evidence, no addition should be made in the hands of Shri Suresh Malge on mere conjectures, surmises and presumptions - AO should pay the cost of Rs. 20,000/- to Shri Suresh Babu Malge for making him come again in appellate proceedings - in favour of assessee.
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