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2014 (4) TMI 217 - HC - Income TaxJurisdiction u/s 158BD of the Act - Whether the Tribunal fall into error in not holding that the addition made to the assessee’s income was in a proceeding without jurisdiction on account of no satisfaction (and consequent notice) under Section 158BD of the Act – Held that:- The search conducted previously in respect of her husband formed the material which ultimately resulted in the addition and the assessment - the addition cannot be considered unauthorized for not fulfilling the conditions prescribed u/s 158BD – the case cannot be considered as one in which no incriminating material was found pursuant to the search u/s 132 - the search of the locker in the assessee’s case is closely linked to the search in the husband’s case where incriminating materials pertaining to the assessee were found - The close proximity of both the searches and the continuous course of events in the case rule out the acceptance of the argument that no incriminating material was found in the search of the locker – thus, the additions were invalid. Relying upon Friends Overseas (P) Ltd v. CIT [2003 (11) TMI 27 - DELHI High Court] - The findings of the lower authorities are based on a proper appreciation of the facts - The documents, in the form of the (unsigned) agreement to sell do disclose that the real and undisclosed consideration for sale of the property was far in excess of what was in fact reported in the assessment - the CIT (A) and Tribunal was of the opinion that since only a portion of the property had been gifted by the assessee’s husband to her, the entire addition could not be made in her hands – this was purely a question of fact, the Court cannot interfere in it – Decided against Assessee.
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