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2013 (3) TMI 31 - HC - Income TaxProtective v/s substantive assessment - AO was not aware as to who was the real owner of the income and in whose hands the substantive assessment has to be made - Held that:- A protective assessment can be made against a person who has voluntarily filed a return. If AO has doubt about the genuineness and veracity of the claim made by the person, who has filed the return in that event he will be well within his rights to make a protective assessment. Thus in the case of doubt or ambiguity about real entity in whose hands a particular income is to be assessed the Assessing Authority is entitled to have recourse to make a protective assessment, thus the Tribunal was not justified in holding that in the absence of the real owner and as AO was not aware as to who is the real owner of the income a protective assessment should not have been made and instead a substantive assessment has to be made - against the assessee.
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