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2018 (8) TMI 1059 - AT - Income TaxAssessment u/s 153A pursuant to search - completed assessment - Additions u/s 68 - unexplained unsecured loan - AO made the addition only on the reason that the assessee could not furnish complete address of the party along with confirmation etc to prove the genuineness of the credits. - Held that:- the assessment year 2007-08 under consideration falls in the category of ‘completed assessments’. It is apparent from the assessment order itself, as has been candidly admitted by the ld. DR as well, that there is no reference to any incriminating material in the assessment order qua the creditor in respect of whom addition was made. In that view of the matter, the assessment cannot embrace any fresh disallowance otherwise than that supported by any incriminating material found during the course of search. - Decided in favor of asssessee.
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