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Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
<h1>Special Leave Petition dismissed; reassessment under s.158-BC and scope of s.158-BB upheld for undisclosed income</h1> SC dismissed the Special Leave Petition and upheld the HC and Tribunal findings that reassessment under s.158-BC (and scope of s.158-BB) was valid. The ... Computation of undisclosed income of the block period - Scope of section 158-BB of the Income Tax Act for assessment of undisclosed income in search cases - As decided by HC [2024 (11) TMI 1034 - PUNJAB & HARYANA HIGH COURT] Assessment u/s 158-BC of the Act is required to be made both on the basis of result of search as well as post search enquiry and other proceedings which are in the nature of consequences of the evidence found as a result of search.there is cross-examination of almost all persons, whose statements were relied upon, was afforded to the assessee and after the cross-examination was conducted when nothing contrary to the earlier statements was emerged and in some cases the assessee did not even come forward to cross-examine, the inference could be drawn. Tribunal has found that there was undisclosed income of the assessee which he was earning through ghost and benami companies, which were running on the properties taken on rent by him. The assessment order was found to have been correctly re-assessed by the three Judges Bench of the Tribunal. HELD THAT:- Having heard the learned senior counsel appearing for the petitioner and having gone through the materials on record, we find no good ground to interfere with the impugned order passed by the High Court. Special Leave Petition is, accordingly, dismissed. 'Delay condoned.' After hearing senior counsel and reviewing the record, the Court concluded that 'we find no good ground to interfere with the impugned order passed by the High Court.' Consequently, the 'Special Leave Petition is, accordingly, dismissed.' All 'Pending application(s), if any, shall stands disposed of.' The decision affirms the High Court's order without addressing substantive merits beyond record review, resulting in dismissal of the petition and final disposition of any ancillary applications.
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