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2016 (8) TMI 53 - AT - Income TaxUnexplained purchase u/s 69C - unexplained purchases - admission of additional grounds - Held that:- No incriminating material belonging to the assessee was seized and in both the cases additions were made for unexplained purchases under section 69C of the Act on the basis of the statement of third-party recorded subsequent to the search. Thus, respectfully following the judgment of the Hon’ble Jurisdictional High Court in the cases of R.R.J. Securities Ltd. (2015 (11) TMI 19 - DELHI HIGH COURT ) and Kabul Chawla (2015 (9) TMI 80 - DELHI HIGH COURT ), we hold that since in the case, as on the date of search, the assessments already stood completed, therefore, no addition could have been made in the year under consideration in absence of any incriminating material, and accordingly, the additions made by the Assessing Officer are directed to be deleted. - Decided in favour of assessee.
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