1979 (5) TMI 25

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....g a business of house building. His business premises were searched by the Department on 26th Nov., 1974. On the basis of certain documents found therein the ITO concluded that the assessee had made investments which have not been properly explained. He made an addition of Rs. 11,564 for the asst. yr. 1973-74 and Rs. 11,010 for the asst. yr. 1974-75. 2. The firm in which the assessee was a partn....

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..... The firm had received Rs. 59,170 from the customers towards the construction of properties. This was not recorded in the firm's books. The two amounts noted by the ITO are drawn from this Rs. 59,170. This amount is, therefore, part of the income disclosed by the firm. Therefore, it cannot be again assessed in the hands of the assessee partner. We find considerable force in this submission. It is....