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2016 (11) TMI 954 - AT - Income TaxUnexplained sales - sale of shops on account of cash receipts which was not disclosed in the books of accounts - Held that:- Specific documents have been found during the course of survey which established factum of cash component involved in the sale of a shop. If the other shops which are identical in all respects are sold, then these are expected to fetch a similar price. There cannot be a variation of more than four times. The Revenue is not expected to put linkers on its eyes in such cases and if it is so done then it will give rise to un-restricted tax evasion in our country. Under these circumstances, in the peculiar facts of this case, where specific documentary evidences were found, we find that the burden was clearly on the shoulders of the assessee to disprove or negate the effect of these documentary evidences upon other identical transactions. Therefore, the assessee cannot take the benefit of these judgments on the facts of the case before us. Our view also finds support from the judgment of Hon’ble Supreme Court in the case of CST vs. H.M. Esufali H. M. Abdulali [1973 (4) TMI 49 - SUPREME Court]. Thus, with the aforesaid directions, this issue is sent back to the file of the AO.
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