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2008 (6) TMI 208 - HC - Income TaxBlock assessment - additions are made under section 69 on unexplained investments and under section 68 on unexplained cash credit - relatives did not prove the transactions of advances made to the assessee and the assessee could not prove even substantial amount of withdrawals from his own account - contention raised by the assessee’s counsel is that block assessment under section 158BC itself is not tenable because it is not based on any evidence gathered in the course of search, is rejected because assessment was based on the materials gathered on inspection – additions under sections 68 and 69 are permitted in an assessment under section 158BC
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