DOCUMENT FOUND DURING INCOME TAX SEARCH WHICH IS NOT ACCEPTED BY ASSEESEE

DURING THE COURSE OF SEARCH AT ASSESSEE'S PREMISE (LET SAY ABC PVT LTD BEING A JEWELLER), CERTAIN INFORMATION WAS EXTRACTED FROM COMPUTER/HARDISK SEIZED WHEREIN IT WAS MENTIONED IN EXCEL FILE  - DETAILS OF OTHER PERSON (SAY XYZ), HIS ADDRESS, DATE OF CASH RECEIPT FROM XYZ FOR PURCHASE OF JEWELRY. IT WAS A EXCEL DOCUMENT AND DID NOT CONTAIN ANY SIGNATURE. 2. CONSIDERING THE ABOVE EXCEL FILE EXTRACTED AS INCRIMINATING MATERIAL PERTAINING TO OTHER PERSON (XYZ), ASSESSMENT PROCEEDINGS U/S 153(C) WERE UNDERTAKEN OF XYZ. XYZ HAD CLEARLY DENIED SUCH INFORMATION AND TAKEN STAND THAT HE HAS NOT PURCHASED ANY SUCH JEWELRY…

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