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Acit(Central)-2, Bhopal, Bhopal vs Pramada Estates India Private Limited, ... on 31 July, 2024 cites

Dheeraj Lal Harilal Andharia vs Chief Commissioner Of Income Tax (Cca) , ... on 10 June, 2019

Similar views have been expressed by Apex court in the case of Dhiraj Lal Girdharilal v/s CIT (1954) 26 ITR 736 (SC). As per law, tax has to be assessed on real income basis and not on income computed as per the whims and fancies of the A.O without having any corroborative evidence in support. In the instant case, the initial onus was solely on the ld AO to establish that the alleged amount was actually received by appellant, which the ld AO has utterly failed to do. It is also important to mention that a search was carried out on the premises of the appellant and during the course of search no evidence was found regarding receipt of alleged unaccounted money by the appellant. Thus, there existed no locus standi with the ld AO to made additions in the hands of appellant dehors without positive, concrete and direct evidence qua the alleged unaccounted money.
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