Sec.158BA/158BC- Addition based on estimation not sustainable

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

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