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2009 (12) TMI 373 - KERALA HIGH COURTSearch and Seizure- A block assessment was made on the assessee for the period of 10 years. The assessment included Rs. 65 lakhs being the consideration received by the assessee from a firm of which he was previously a partner for the purchase and sale of a theatre building with land thereon. The assessee’s claim of a claim of a foreign gift of Rs. 2 lakhs received by him was disallowed. In the appeal against the block assessment, the Tribunal confirm the assessment of Rs. 65 lakhs but turn down the department’s claim for assessment of the foreign gift amount of Rs. 2 lakh. Held that- the addition of Rs. 65 lakhs was justified. Further held that as the assessee produced evidence to convince the Tribunal that the gift of Rs. 2 lakh involved was a foreign gift and not his income. Thus the Tribunal was justified in deleting the addition.
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