Section 158BC ::
Court :
HC
Brief :
Held by the Hon`ble Court that, the findings recorded by the Tribunal shows that the amount seized from the assessee, could not be faulted and block assessment was valid. Therefore proceedings initiated u/s 158BC was justified in law.
Citation :
Smt. Ratpal Kaur Vs. Asst. Comm. of Income Tax
Section 158BC
Smt. Ratpal Kaur Vs. Asst. Comm. of Income Tax
04/05/2007
[2007] 294 ITR 273 (Bom)
Case Fact:
Whether, proceedings initiated u/s 158BC is justified in law where during the search cash seized from third party admitted by assessee to be his undisclosed income?
Decision:
Held by the Hon`ble Court that, the findings recorded by the Tribunal shows that the amount seized from the assessee, could not be faulted and block assessment was valid. Therefore proceedings initiated u/s 158BC was justified in law.
CA.Saibaburao Nanduri
Published in Income Tax
Views : 84
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