2016 (3) TMI 176 - SCH - Income Tax

Action u/s 132 for search and seizure - order under section 158BC read with section 143(3) - Held that - By the impugned assessment, which has been upheld till the High Cour 2006 (7) TMI 145 - BOMBAY High Court , the addition of only ₹ 3.85 lakhs to the income of the assessee- appellant was made and the tax effect thereof would still be much less. Appeal is dismissed on this ground alone.

Summary

The Supreme Court upheld the impugned assessment, adding only Rs. 3.85 lakhs to the appellant's income, resulting in a minimal tax impact. The appeal was dismissed based on this issue.