[aaykarbhavan] HC raps AO for making additions on estimation basis as no material was unearthed during search to justify it

 

HC raps AO for making additions on estimation basis as no material was unearthed during search to justify it

June 16, 2014[2014] 45 taxmann.com 348 (Karnataka)

IT : In block assessment, no addition can be made on basis of estimation, where no material seized during search in support of making addition in respect of payment

IT : In case of inflation of expenditure only inflated figure/amount is to be added to income of assessee, and not entire amount

Regards

Prarthana Jalan

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

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