TaxTMI 
TaxTMI 
2016 (6) TMI 652
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....MEHTA, ADVOCATE COMMON ORAL ORDER (PER : HONOURABLE MR.JUSTICE AKIL KURESHI) 1. All these three appeals involving the same assessee, for different assessment years, identical question has been posed by the Revenue. In essence, issue pertains to charging interest income in the hands of the assessee for allegedly having made advances without reflecting interest in the accounts. 2. In vie....
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....assessee. The Assessing Officer calculated the rate of return at compounded 18% on the basis of the seized documents during search. The Assessing Officer discarded the explanation of the assessee that the documents were only rough jottings and there was no other evidence to hold that the assessee had earned any interest. Ultimately, the issue reached the Tribunal. The Tribunal by the impugned judg....
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....assessee is after having seen the aforesaid file in detail, I want to state that all the papers are in respect of the business of purchase/sale of land for which at present not able to explain because my evidence books are lying with my advocate/accountant and my mental and physical condition is not good and, therefore, not able to give answer. Allegation of the Revenue is that since the paper is ....
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....ssessee or of any family member. In the absence of corroborative evidence, it is quite difficult to give any categorical finding. The first onus is upon the Revenue to charge the assessee with exact details pointing out that these details relate to the assessee. No such effort was done by the AO also. Therefore, we give benefit of doubt to the assessee and on the basis of such insufficient incompl....