Concessional penalty for search-disclosed unreconciled jewellery applies where substantive disclosure conditions are met despite omission from origina...
Assessment u/s 153C - acceptance of diaries/loose sheets by the respondent - no opportunity was provided to the petitioner as required u/s 127 of the Act inter alia the petitioner being “searched person” and not “Other person” as required u/s 153C - a sheet of paper containing typed entries and in loose form, not shown to form part of the books of accounts regularly maintained by the assessee or his business entities, do not constitute material evidence. - HC
Assessment u/s 153C - acceptance of diaries/loose sheets by the respondent - no opportunity was provided to the petitioner as required u/s 127 of the Act inter alia the petitioner being “searched person” and not “Other person” as required u/s 153C - a sheet of paper containing typed entries and in loose form, not shown to form part of the books of accounts regularly maintained by the assessee or his business entities, do not constitute material evidence. - HC
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