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2017 (8) TMI 1652 - HC - Income TaxAssessment u/s 153A - Proof of incriminating material found during the search - HELD THAT:- Tribunal noted that the return filed by the assessee in the ordinary course was accepted without a scrutiny and the time limit for scrutiny assessment was over. Essentially therefore what the Assessing Officer had done was to realign the income from capital gain to business income. Since this was without the aid of any material unearthed during the search, the Tribunal reversed the assessment order as confirmed by the Commissioner of Income Tax (Appeals). As per the settled law, the approach before the Tribunal cannot be faulted particularly when the Revenue is unable to dispute the factual findings of the Tribunal. We notice that there are additional questions raised by the Revenue which pertained to the actual additions. However, when we hold the main issue against the Revenue, it is not necessary to enter into the subsidiary questions.
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