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2015 (8) TMI 1089 - AT - Income TaxValidity of proceedings initiated under section 158BD - addition on undisclosed income of the assessee - CIT(A) deleted addition - Held that:- Admittedly, in this case the AO of the searched person had not recorded any satisfaction about any undisclosed income of the assessee which had escaped assessment. The AO of the searched person had simply forwarded the documents to the AO of the assessee for examination. The AO, in the assessment order, has reproduced the satisfaction note which relates to the alleged satisfaction recorded by the AO of the assessee and not by the AO of the searched person and hence the notice issued under section 158BD did not fulfill the requirement of said section and hence is liable to be treated as bad in law and consequently the assessment proceedings under section 158BD are thus liable to be held as null and void. Neither the name of the assessee has been mentioned on the said document nor the description of the flat in question has been mentioned on the said document. The said document was a dumb document. Even the concerned person, from whom the said document was recovered, had stated that he was not aware of the correctness of the contents of the document. Merely based on the said loose paper, the addition in the case of the assessee without any corroborative evidence in this respect was not warranted and no evidentiary value can be attached to such a document in the absence of any circumstantial or corroborative evidence. We, therefore, do not find any infirmity in the well reasoned order of the Ld. CIT(A) in this respect - Decided against revenue.
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