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2010 (8) TMI 65 - HC - Income TaxAddition on the basis of District Valuation officer - during the search, no evidence was found suggesting a higher valuation for the property CIT(A) and ITAT deleted the additions stated that additions on account of valuation difference cannot be made in the absence of any evidence found in the course of search because undisclosed income in the block assessment is to be computed on the basis of material found in the search proceedings and the valuation report was admittedly not during the course of the search and was obtained as by the department subsequent thereto. Held that: - in the present case, no evidence much less incriminating evidence was found as a result of the search to suggest that the respondent-assessee had made any payment over and above the consideration mentioned in the return of the respondent-assessee. revenue petition dismissed decided in favor of assessee
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