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2016 (12) TMI 248 - HC - Income TaxInterpretation of the provisions of Section 158BB and Section 158B (b) - undisclosed income - Held that:- The assessee has rightly relied on a decision of this Court in the case of Commissioner of Income Tax Vs. N.K. Laminates P. Ltd. reported in (2014 (4) TMI 565 - ALLAHABAD HIGH COURT ) wherein the Court has examined at length the provisions of Section 158B, 158BB and 158 BC of the Act which relate to undisclosed income and has come to the conclusion that the material which is not found at the time of search or as a result of requisition of books of account or other document, cannot be made the basis for determination of undisclosed income under Section 158(B)(B). It is necessary mandate of Section 158(B)(B) of the Act that any material which is found during the search itself should form the basis of any additions which may be made. The facts in this case are otherwise. The matter is therefore, concluded by the facts and even otherwise on merits the question is answered in favour of the assessee
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