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2007 (12) TMI 219 - HC - Income TaxBlock Assessment – Undisclosed income - First being as to whether for the purposes of block assessment under section 158BC the computation of undisclosed income can include income of any previous year which was below taxable limit but for which no return under section 139 was filed since there was no obligation under the Act to file the return – whether the income from undisclosed sources represented through assets acquired by the parents of the assessee can be the subject-matter of block assessment in the hands of the assessee - held that - if the Assessing Officer finds that the income of the assessee falls below the taxable limit during any particular assessment year then the income of that assessment year shall not be taken to be a part of the undisclosed income for the purpose of block assessment - , on the face of the language of section 158BB and rather all provisions contained in Chapter XIV-B, we are satisfied that even from the standpoint of burden of proof the learned Tribunal has rightly appreciated the evidence of the assessee
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