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2016 (6) TMI 959 - GUJARAT HIGH COURT

2016 (6) TMI 959 - GUJARAT HIGH COURT - TMI - Applicability of provisions of Section 158BD - block assessment - Whether ITAT was right in law in holding that provisions of Section 158BD can arise out of material or evidence found during the course of the survey proceedings under Section 133A ? - Held that:- In the present case, admittedly, no evidence indicating charging of “on money” by the assessee on the sale of shop was found during the search. Only one document, viz. Deed of partnership, wa .....

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2005 - Dated:- 9-6-2016 - MR. KS JHAVERI AND MR. G.R.UDHWANI, JJ. FOR THE APPELLANT : MR BS SOPARKAR FOR MRS SWATI SOPARKAR, ADVOCATE FOR THE OPPONENT : MR SUDHIR M MEHTA, ADVOCATE ORAL JUDGMENT (PER : HONOURABLE MR.JUSTICE KS JHAVERI) 1. This Tax Appeal is filed under Section 260A of the Income-tax Act, 1961 challenging the order dated 13.09.2004 passed by the Income Tax Appellate Tribunal, Ahmedabad Bench A in ITA No.88/Ahd/2001 raising the following substantial question of law: Whether, in th .....

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nchnama was prepared. A Notice u/s.158BC of the Act was issued and served upon the assessee requesting him to file the return of income for the block period. The assessee filed return of income disclosing total undisclosed income of Rs. Nil . On the basis of seized material, it was gathered that the assessee had sold a shop to some third party, named, M/s. Anupriya Synthetics . A survey u/s.133A of the Act was conducted at the premises of said M/s. Anupriya Synthetics. During the course of surve .....

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the reply and passed assessment u/s.158BC(c) of the Act and issued penalty notice u/s.158BFA(2) of the Act, vide order dated 27.12.2000. 3. Being aggrieved by the aforesaid order, the assessee filed appeal before the CIT(A). The CIT(A) partly allowed the appeal of assessee vide order dated 02.05.2001. Against the said order, the Revenue preferred appeal before the Tribunal. The Tribunal allowed the appeal filed by the Revenue and set aside the order of CIT(A) vide order dated 13.09.2004. It is a .....

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d on the basis of seized material that a strong suspicion had arisen to the effect that assessee had charged on money . However, we find that the Assessing Officer has neither specified nor discussed the material/s, which created such suspicion. 6. We find that the addition of ₹ 4.40 Lacs was made on the basis of survey carried out at the business premises of a third party - M/s. Anupriya Synthetics. One Dilip Kejriwal, who happens to be the main person of the said firm, gave the statement .....

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