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2018 (3) TMI 47 - AT - Income TaxAssessment u/s 153A - addition of undisclosed income - absence of any incriminating material found during the course of search - Held that:- CIT(A) specifically asked the remand report of the AO on the aforesaid contention of the assessee. In response, the AO in his remand report dated 16.03.2016 admitted that though no documents were found/seized nor there was any admission by the assessee during the course of search but the addition was made as the assessee failed to establish the identity, creditworthiness and genuineness of the share capital/premium. From the above observation of the AO, it is crystal clear that no incriminating material was found during the course of search relating to the impugned addition. See CIT Vs Kabul Chawala (2015 (9) TMI 80 - DELHI HIGH COURT) - Decided in favour of assessee.
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