https://www.taxtmi.com/caselaws?id=207023 The High Court dismissed the Revenue's appeal challenging the ITAT judgment on computing undisclosed income under section 158 BB. The Court upheld the Tribunal's finding that evidence from a connected case did not establish a nexus between the assessee and transactions mentioned in seized documents. It was concluded that even if the seized material was considered, there was no basis to connect the assessee to the transactions, rendering the legal questions irrelevant. The Court emphasized the importance of factual findings in determining the lack of evidence linking the assessee to the transactions, leading to the dismissal of the appeal. en-us Mon, 04 Jan 2010 00:00:00 +0530 Fri, 25 Nov 2011 09:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207023 The High Court dismissed the Revenue's appeal challenging the ITAT judgment on computing undisclosed income under section 158 BB. The Court upheld the Tribunal's finding that evidence from a connected case did not establish a nexus between the assessee and transactions mentioned in seized documents. It was concluded that even if the seized material was considered, there was no basis to connect the assessee to the transactions, rendering the legal questions irrelevant. The Court emphasized the importance of factual findings in determining the lack of evidence linking the assessee to the transactions, leading to the dismissal of the appeal. Case-Laws Income Tax Mon, 04 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207023