Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (5) TMI 1323 - AT - Income TaxUndisclosed income from purchase of bitumen from Shri K.K.Kedia - Held that:- When it is proved that charges against the assessee are not correct no addition based on such allegations can be sustained. The ld. CIT(A) also records that the assessee has filed documents to counter the allegations of the AO and to prove actual delivery of bitumen etc and also to prove that there was no misappropriation. The ld. DR could not controvert the factual finding of the ld. CIT(A) nor he produced any material before this Bench to controvert the submissions of the assessee. Addition in block assessment made u/s 158BC - The findings of the First Appellate Authority that, there is no material found or seized during the course of search and hence no addition can be made in the block assessment made u/s 158BC could not be controverted by the DR. CIT(A) further held that the addition is not correct in law as it was based on a presumption that 55% of the expenses booked are bogus expenditure. As the facts was not controverted, we uphold this finding of the ld. First Appellate Authority and dismiss this ground of the assessee. Revenue’s appeal dismissed on the issue of addition.
|