| |
The Tax PublishersTax Case Appeal Nos. 718 to 720 & 805 to 809 of 2018 & CMP. Nos. 15383 to 15385, 19838, 19849, 19852 & 19856 of 2018
2019 TaxPub(DT) 0253 (Mad-HC)INCOME TAX ACT, 1961
Section 132
Since loose sheets seized from premises of assessee during search constituted documents within the meaning of Explanation under sub-section (4) of section 132, therefore, addition made by AO with respect to undisclosed income was justified.
|
Search and seizure under section 132 - Addition made merely on the basis of loose sheets found during search - Maintainability -
Assessee raised appeal before this court against the order of Revenue that whether addition of undisclosed income can be made in assessee's income on basis of loose sheets seized during search conducted in assessee's premises. Held: Loose sheets seized from premises of assessee during search constituted documents within the meaning of Explanation under sub-section (4) of section 132. Therefore, the addition made by AO with respect to undisclosed income was justified.
Followed:CIT v. T. Rangroopchand Chordia (2016) 241 Taxman 221 (Mad) : 2016 TaxPub(DT) 2459 (Mad-HC) Shri S. Arputharaj v. DCIT [I.T.A. Nos. 1493, 1494, 1495, 1496, 1497, 1498 & 1499/CHNY/2018, dt. 13-6-2018]
REFERRED :
FAVOUR : Against the assessee
A.Y. : 2010-11
 SUBSCRIBE FOR FULL CONTENT
|