https://www.taxtmi.com/caselaws?id=240880 The appeal by the Revenue challenging an order holding income as undisclosed was dismissed. The case involved gifts received by the assessee, which the Assessing Officer alleged were not genuine and added to income for tax purposes. However, the Commissioner of Income Tax (Appeals) and the Tribunal found that the gifts were disclosed in the returns and not undisclosed income. The judgment emphasized the special procedure for assessing search cases and clarified that disclosed income cannot be treated as undisclosed. The appeal was dismissed, ruling in favor of the assessee. en-us Mon, 25 Nov 2013 00:00:00 +0530 Fri, 13 Dec 2013 07:13:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240880 The appeal by the Revenue challenging an order holding income as undisclosed was dismissed. The case involved gifts received by the assessee, which the Assessing Officer alleged were not genuine and added to income for tax purposes. However, the Commissioner of Income Tax (Appeals) and the Tribunal found that the gifts were disclosed in the returns and not undisclosed income. The judgment emphasized the special procedure for assessing search cases and clarified that disclosed income cannot be treated as undisclosed. The appeal was dismissed, ruling in favor of the assessee. Case-Laws Income Tax Mon, 25 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240880