https://www.taxtmi.com/caselaws?id=762048 The HC upheld the Tribunal's decision in a search and seizure case under section 158-BB of the Income Tax Act. The assessee challenged the assessment of undisclosed income from liquor vends operated through benami entities. Despite licenses being in other names, the court found substantial evidence including documents, statements from employees, and rent agreements establishing the assessee as the real owner. The court ruled that assessing officers can consider both search materials and other available information, and are not bound by technical evidence rules. Cross-examination opportunities were provided, and the assessment correctly identified undisclosed income through ghost companies. The appeal was decided against the assessee. en-us Thu, 14 Nov 2024 00:00:00 +0530 Thu, 21 Nov 2024 15:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762048 The HC upheld the Tribunal's decision in a search and seizure case under section 158-BB of the Income Tax Act. The assessee challenged the assessment of undisclosed income from liquor vends operated through benami entities. Despite licenses being in other names, the court found substantial evidence including documents, statements from employees, and rent agreements establishing the assessee as the real owner. The court ruled that assessing officers can consider both search materials and other available information, and are not bound by technical evidence rules. Cross-examination opportunities were provided, and the assessment correctly identified undisclosed income through ghost companies. The appeal was decided against the assessee. Case-Laws Income Tax Thu, 14 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762048