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2008 (11) TMI 335 - HC - Income TaxSearch and seizure operation - Undisclosed income - notice was issued under section 158BC - amount pertaining to the sundry creditors - During the course of hearing, the assessee was asked to submit confirmation of accounts of all sundry creditors, but confirmation in regard to the aforesaid two creditors were not submitted - Show-cause notice given to the assessee also did not yield any result. Neither the assessee submitted confirmation from the aforesaid creditors nor delivery challans were filed to prove that those are genuine creditors - we are of the opinion that the Assessing Officer rightly did not accept the case of the assessee in regard to those two creditors and the Tribunal without assigning any reason had deleted the said addition. In the facts of the present case, we are of the opinion that the assessee had not discharged the onus and the Tribunal erred in directing deletion thereof.
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