Where assessee had exported rice and officers of Enforcement Directorate searched premises of assessee and alleged that it had mis-declared value of goods exported by it and based on documents seized during search, Assessing Officer made additions to income of assessee, since Enforcement Directorate had dropped proceedings against assessee and matter stood settled between assessee and Enforcement Directorate, Foundation of proceedings under 1961 Act stood wiped out, thus, there was no ground to make additions in returned income of assessee – Commissioner of Income-tax-II v. Sachdeva & Sons – [2024] 165 taxmann.com 82 (Punjab & Haryana)
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