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2019 (10) TMI 1003 - HC - Income TaxAssessment on the basis of seized material and documents u/s 158BB(1) - Tribunal recorded a categorical finding that Assessing Officer instead of working out undisclosed income, as per the provisions of Section 158 BD had totalled up amount mentioned in various annexures, which according to the assessee are part of the contract work done by him - HELD THAT:- Tribunal has recorded a finding in regard to the additions made by the AO which was confirmed by the CIT (Appeals), which was based only on mere assumption and not on any material recovered during search and seizure. The Tribunal had recorded a categorical finding that addition cannot be made merely on presumption that assessee had earned undisclosed income and incurred expenses outside books of account, which need no interference being finding of fact, the appeal lacks merit and is hereby dismissed.
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