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Sec.158BA/158BC- Addition based on estimation not sustainable
Case Law Details
- Case Name
- CIT Vs Vatika Landbase Pvt. Ltd. (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
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Brief of the Case
Delhi High Court held In the case of CIT vs. Vatika Landbase Pvt. Ltd. that the assessment for the block period can be done only on the basis of evidence found as a result of search or requisition of books of account or documents and such other materials or information as are available with the Assessing Officer. In the present case, there was no material on the basis of which the AO could have applied a standard rate of Rs 4,800 per sq ft for all the floors. It was also not open to the AO to draw an inference on the basis of the projection in the document...
