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Case Law Details

Case Name : Manoj Aggarwal Vs. DCIT (ITAT Delhi 5 Member Spl Bench)
Appeal Number : IT(SS)A. No. 404/Del/2003] and Department's Appeal IN IT (SS)A. No. 415/DeJ./2003
Date of Judgement/Order : 25/07/2008
Related Assessment Year :
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Manoj Aggarwal Vs. DCIT (ITAT Delhi 5 Member Spl Bench)

(1) Even in the case of an assessee not maintaining books of account and to whom s. 68 does not apply, addition in respect of unexplained entries in the bank book can be made;

(2) Where the assessee was not provided copies of the seized documents and the delay in filing the block return was on that count, interest u/s 158BFA (1) is not leviable even though there is no exemption on that count in the statute.;

(3) It is a precondition to invoking s. 158BD that the AO must, in the course of s. 158BC proceedings, record satisfaction that the income belongs to the other person. In the absence of such finding, s. 158BD cannot be invoked. The satisfaction must be objective and not subjective. It must be recorded before jurisdiction is exercised. Even though no time limit is prescribed, there is an implied time limit for giving such finding i.e. the period prescribed in s. 158BE for framing the s. 158BC assessment;

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