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2018 (12) TMI 529 - HC - Income TaxBlock assessment u/s 158BC - Search was conducted in the various business premises, jewelries of the assessee, at different locations, all partnerships firms with the siblings as partners, as also residence of the partners on 20.11.2001 under Section 132 - Held that:- On a verification of the details as produced by the partners and their return of income found that the figures in the books of the assessee tallies with the figures as seen from the individual returns of the partners and their wives. It was in such circumstance, that the First Appellate Authority modified the assessments and while retaining certain additions deleted the major portion. The Tribunal also found favour with the First Appellate Authorities order. As far as the rectification and addition made in the course of such rectifications the assessee was issued with notice and only later, the Assessing Officer made the additions. However that also, related to the credit found in the name of the partners in the capital account of the assessee firm which again stood explained by the individual returns of the partners for the various years as produced before the First Appellate Authority. We do not think any interference need be caused to the findings on facts as entered by the First Appellate Authority and confirmed by the Tribunal. We do not see any question of law arising from the orders of the Tribunal.
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