Case Law Details
PCIT Vs PLAMA Developers Ltd (Karnataka High Court)
In the case at hand, the Assessing Officer made additions to the assessee’s income based on certain loose papers found during a search. The Commissioner (Appeals) deleted the additions, and the revenue appealed to the Tribunal, which was eventually dismissed. Let’s delve into the detailed analysis and the court’s final decision.
The assessment order indicated a proposed payment schedule, including cash payments to landowners. However, the Commissioner (Appeals) sought a remand report, which revealed no adverse statements against the assessee. The revenue claimed a sheet of paper found during the search supported cash payments, but the court found it insufficient to justify the additions.
Upon thorough examination of the case and considering the fact-finding authorities’ decisions, the High Court upheld the Commissioner (Appeals) and Tribunal’s rulings. The Assessing Officer’s addition based on loose papers was deemed inadequate to justify the additions, leading to the dismissal of the appeal filed by the revenue.
FULL TEXT OF THE JUDGMENT/ORDER OF KARNATAKA HIGH COURT
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