Computation of undisclosed income in case no incriminating document was found during search
Oct 27, 2009 Income Tax Case Laws
SUMMARY OF CASE LAW
As long as there is an evidence to the undisclosed income of the assessee, that would be sufficient to clothe the Assessing Officer with the powers to add to such evidence any further material or information that may pertinent or necessary to reach a logical conclusion but there has to be a certain and specific nexus between the evidence found as a result of search and income proposed to be assessed in the block assessment.
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Tags: assets, black money, case law, finality, incomes, insertion, legal battles, new evidence, nexus, requisition, search cases, tax evaders, time search