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2010 (4) TMI 146 - HC - Income TaxSearch and seizure- Block assessment- In block assessments additions were made in relation to jewellery and household goods on estimated basis for the block period. The assessee preferred appeals raising a jurisdictional point that no search warrant had been issued regarding jewellary found in the locker at UTI Bank. The Tribunal did not considered the jurisdiction aspect nor whether the extent of addition made with regard to household goods was indicative that these are not substantial items and would be available in the household of any average businessman and that such items could have been purchased from the assessee’s regular income. Held that- the jurisdictional issue regarding jewellery required a finding of the Tribunal for examination of the issue on the merit. The Tribunal had to examine whether the household goods could not have been acquired by the assessee from their regular assessed income and whether the household goods could not have been acquired by the assessee from their regular assessed income and whether the household goods were acquired during the block period. The matter was remanded for fresh consideration.
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