INCOME TAX ACT, 1961

Search and seizure - Assessment under section 153A -Validity

Held: There was no requirement for an assessment made under section 153A being based on any material seized in course of search.

Income-tax Act, 1961, Section 153A

A.Y. : 1998-99 to 2000-01
Decision: In favour of revenue

INCOME TAX ACT, 1961

Accounting method - Rejection on -Addition made on estimation basis

Held: On non-furnishing of books of accounts by assessee, AO rejected income declared by assessee and estimated assessee income under section 144 and made additions accordingly. Held:in pursuant of facts, it was noticed that AO did not placed any material on record for said addition, therefore, impugned additions made by AO was deleted.

Income-tax Act, 1961, Section 145

A.Y. : 1998-99
Decision: In favour of assessee

INCOME TAX ACT, 1961

Income from undisclosed sources - Addition under section 68 -Non-disclosure of facts

Held: On failure on part of assessee to explain source of deposit in her capital account, addition made by AO under section 68 was justified.

Income-tax Act, 1961, Section 68

A.Y. : 1998-99
Decision: In favour of revenue