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2015 (1) TMI 655 - AT - Income TaxUnaccounted receipt on the allotment of plots - CIT(A) confirmed the addition - block assessment proceedings - Held that:- CIT(A) has erred in confirming the addition of ₹ 12,44,06,000/- made on account of alleged unaccounted receipts on the allotment of plots in Ardee City, Gurgaon as the same additions made by the AO during reassessment proceedings u/s 143(3)/147 of the Act have not been found to be acceptable and sustainable by the Tribunal and the orders of the Tribunal have attained finality, thus, additions made on the same set of facts and circumstances on the same issue in the order passed by the AO in block assessment proceedings u/s 158BD/158BC for block period of 1.4.1996 to 20.9.2002 are not sustainable. The additions made in the hands of purchasers about alleged investment from undisclosed sources have also not been found to be unsustainable thus no adverse inference about undisclosed income can be drawn.- Decided in favour of assessee.
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