https://www.taxtmi.com/caselaws?id=312454 The tribunal allowed the appeals for statistical purposes, directing the Assessing Officer to re-examine the undisclosed income declared during a search operation under section 132(4) of the Income Tax Act. The tribunal found that the lack of verification of assessments for other group members, such as Shreem Developers, could lead to double taxation if the same income was taxed again in the appellant's hands. The appellant must provide necessary details to substantiate their claim. The decision emphasized the importance of proper verification to prevent double taxation and ensure fair assessments. en-us Wed, 20 Dec 2017 00:00:00 +0530 Tue, 20 Feb 2024 06:29:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312454 The tribunal allowed the appeals for statistical purposes, directing the Assessing Officer to re-examine the undisclosed income declared during a search operation under section 132(4) of the Income Tax Act. The tribunal found that the lack of verification of assessments for other group members, such as Shreem Developers, could lead to double taxation if the same income was taxed again in the appellant's hands. The appellant must provide necessary details to substantiate their claim. The decision emphasized the importance of proper verification to prevent double taxation and ensure fair assessments. Case-Laws Income Tax Wed, 20 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312454