Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2014 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (11) TMI 267 - HC - Income TaxTaxability of income - Regular assessment or block assessment - Whether the Tribunal was correct in holding that after the search and in the consequential survey it was discovered that the assessee had adopted a modus operandi where there was separation of sales which could be brought to tax in regular assessments and not in Block assessment - Held that:- During the search no undisclosed income was detected - No seizure of incriminating materials was made - It is only in the course of survey, the incriminating material was found - That material is not relatable to any incriminating material found during survey - on the basis of the incriminating material found in the course of survey merely because the same was put to the Assessee and his statement was recorded subsequent to the search, it cannot be held to be relatable to the Assessee - the authorities were justified in holding that the material found in the course of survey can become the subject matter of regular assessment and it cannot become the subject matter of Block assessment – thus, the order of the Tribunal is upheld – Decided against revenue.
|