[aaykarbhavan] Sec. 69B additions by SetCom couldn’t be doubted on mere declaration of higher undisclosed income by seller

Sec. 69B additions by SetCom couldn't be doubted on mere declaration of higher undisclosed income by seller

August 1, 2014[2014] 46 taxmann.com 439 (Delhi)

IT: Where assessee along with her husband admitted that she had acquired 1/3 share in a property and offered same as her undisclosed investments in search and approached Settlement Commission offering higher sum which amounted to 1/3rd share in said property, merely because sellers had declared higher undisclosed income, it could not bind assessee and result in addition to her income in absence of concrete evidence

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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