Dear all ,
There has been search and Seizure by the IT Department in premises of Mr.X and they found a bank locker key and after searching they found an undisclosed amount in the locker .
The locker was in the name of Mr.Y ,who opened the locker on request of Mr.X for his use and Mr.Y has never used this locker nor he has any knowledge of the valuables kept in locker
After identifying by dept that locker was of Mr.Y they have questioned Mr.Y and Mr. Y gave a statement that he has no belonging and usage of the locker and he has opened the locker only for use of Mr.X and even Mr.X has given a Statement that the undisclosed amount is of Mr.X only .
Now the dept has given a notice to Mr.Y asking u/s 143(2) asking details regarding the search and Seizure
Can anyone help me with some relevant case laws regarding the issue where Mr.Y is respondent.
Menu
Search and Seizure case laws
Replies (1)
Mr. Y should contest the addition of the undisclosed amount by relying on the "substance over form" doctrine and the formal admission by Mr. X. By submitting a strong written reply backed by Mr. X's statement and evidence showing Mr. Y's lack of beneficial ownership, Mr. Y can challenge the notice issued by the department.
Recent Topics :
- Query on FCTRS
- APPLICABILITY AND BREAKDOWN OF GST COMPLIANCE ON S
- Advance for supply of goods
- Question for members: how do you manage client doc
- Clarification Required on Invoicing and Receipt of
- SEBI Registered VS NSDL Registered RTA
- Income tax or capital gain tax for Resident Indivi
- PCIT-1 Thane Email address
- CA Fees deduction for non audit case allowed?
- 5th Letter PAN Mismatch with Surname issues still
Related Topics :
CAclubindia
