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2018 (2) TMI 423 - AT - Income TaxUnaccounted investment in Jewellery added to the total income of the assessee - Held that:- It is undisputed fact that assessee has filed wealth tax return for A.Y.2008-09, wherein total Jewellery has been shown. Coordinating Bench in assessee’s own case for Asst. Year 2009-10 held that no denial that no incriminating material was found at the time of search proceedings. It is also an undisputed fact that prior to the date of search, the assessee had filed Wealth Tax Returns. The only evidence which came to the notice of the search party were the Wealth Tax Returns filed by the assessee. In our considered opinion, the Wealth Tax Returns of the Group, by any stretch of imagination, cannot be considered as incriminating material in the hands of the assessee. Except for this, there is nothing on record to suggest any incriminating material/document/evidence - We allow the appeal of the assessee and direct the Assessing Officer to delete the addition.
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