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2018 (9) TMI 470 - AT - Income TaxDisclosure of additional income made with a rider - undisclosed income/transaction/entry found during the course of the block assessment proceedings shall be set off against this disclosure - Held that:- It is important to note that while arriving total disclosure of ₹ 40 Crores in the hands of the appellant as well as in the hands of the various group concerns of the Madhav Group, the appellant and the Madhav Group concern could worked out the total disclosure to the extent of ₹ 32.45 Crores only on the basis of incriminating material. The balance of ₹ 7.55 crores was offered as Adhoc in equal sharing of 3 brothers i.e. the appellant, his brothers Shri Motibhai Prajapati and Bhagwanbhai Prajapati. The Adhoc disclosure shown in the return of income for A.Y. 2012-13 with a rider that any undisclosed entry/income/transaction worked during the course of the block assessment proceedings will be set off against this Adhoc disclosure of Rs: 2.52 Crores. The appellant has claimed this entry of ₹ 1.99 croresas set-off against the Adhoc disclosure of ₹ 2.52 Crores but the Ld. A.O. has not given the same because he has opined that the adhoc disclosure of ₹ 2.52 . crores was made in the A.Y. 2012-13 and ₹ 1.99 crores is pertaining to A.Y. 2006-07. It is pertinent to mention here that the said seized paper does not contain any date. Respectfully following the case of Rajasthan High Court [1972 (11) TMI 20 - RAJASTHAN HIGH COURT] since the Adhoc disclosure of ₹ 2.52 crores was made with a rider that any undisclosed income/transaction/entry found during the course of the block assessment proceedings shall be set off against this disclosure, the appellant is entitled for the legitimate claim. - Decided in favour of assessee
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