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2014 (1) TMI 1189 - HC - Income TaxBlock assessment - Evidentiary value of assessment order u/s 34 of Evidence Act – Order for undisclosed income passed on the basis of loose sheets of paper – Held that:- The Tribunal and the CIT (Appeals) have found that the proper cross verification was not made by the Assessing Officer before making such an addition and therefore, the matter has been remitted to the Assessing Officer for proper examination and cross verification - The addition is therefore subject to ascertainment of facts on proper verification by the Assessing Officer – thus, the contention of the petitioner based upon interpretation of section 34 of the Indian Evidence Act, is misconceived and liable to be rejected - The addition made in the income of the Assessee, based upon the entries made in ledger seized from the premises of another Firm, was not justified as no such actual payments could be proved on appreciation of evidence - in the wake of clear provisions contained in section 158B(b) read with section 132(4A) of the Income Tax Act, the addition of undisclosed income on the basis of entries made in the loose sheet is dependent upon the investigation of facts and cross verification by the Assessing Officer - The substantial questions of law is accordingly answered against the Assessee – Decided against Assessee.
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