TMI Blog2014 (6) TMI 995X X X X Extracts X X X X X X X X Extracts X X X X ..... material and in the course of search, no books of accounts and vouchers were found and it was admitted that the M.D. consequent to the completion of the assessments, the relevant books of accounts and vouchers were shifted to a godown and they were not able to locate the relevant books of accounts. We fail to understand when the assessment was made on the estimated income, how there can be relevan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come of the assessee? 2. Whether the ITAT was correct in observing that search assessments cannot be done without incriminating materials? The judgment of the learned Tribunal was rendered covering the following assessment years 2004-05 and 2010-11. However, the point, which is raised in this appeal relates to the assessment year 2006-07. We have heard Sri J.V. Prasad, learned counsel for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Income Tax Act, 1961. The learned Tribunal, on appreciation of fact, correctly concluded that such exercise was not called for. We, therefore, do not find any infirmity for differing with the impugned judgment and order of the learned Tribunal. The appeal is accordingly dismissed. Consequently, the miscellaneous petitions, if any pending, shall also stand dismissed. No costs. - - Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X
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