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2018 (7) TMI 2054

..... ncome Tax Act, which has been confirmed by the learned Tribunal, after following the decision of the Division Bench of this Court in the case of Principal Commissioner of Income Tax Vs. Mukeshbhai Ramalal Prajapati [2017 (7) TMI 966 - GUJARAT HIGH COURT] Revenue failed to question the assessee while recording his statement under section 132 (4) of the Act as regards the manner of deriving such inc .....

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..... alty would not arise. No substantial question of law. - R/Tax Appeal No.  836 of 2018 - 10-7-2018 - Mr. M.R. Shah and Mr. A.Y. Kogje, JJ. Mrs Mauna M Bhatt(174) for the Appellant. ORAL JUDGMENT Mr. M.R. Shah [1.0] Feeling aggrieved and dissatisfied with the impugned judgment and order passed by the learned Income Tax Appellate Tribunal, Rajkot Bench, Rajkot (hereinafter referred to as the learned .....

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..... did not disclose the source of undisclosed income unearthed at the time of search. The Assessing Officer was of the opinion that for making an exception under Section 271AAA of the Income Tax Act, Sub Section (2) of Section 271AAA of the Income Tax Act namely that the assessee must have admitted the undisclosed income in the course of search and in a statement under Sub Section (4) of Section 32 t .....

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..... 14. We do not reject this contention totally. However, insofar as the facts of the present case are concerned, the field would still be held by the decision of this Court in case of Commissioner of Income Tax vs. Mahendra C.Shah (supra). Subsection (2) of section 271AAA imposes an additional condition of the assessee having to substantiate the manner in which, the undisclosed income was derived. .....

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..... e context of sub-section (2) of section 271AAA of the Act. It is only when the officer of the raiding party recording the statement of the assessee under section 132(4) of the Act elicits a response from the assesse's this requirement, the assessee's responsibility to substantiate the manner of deriving such income would commence. When the base requirement itself fails, the question of den .....

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