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2011 (6) TMI 503 - KERALA HIGH COURTSettlement proposed to avoid unnecessary remands and repeated appeals - search and seizure - undisclosed income - Department having strong case against assessee - Held that:- Since assessee during course of assessment showed willingness to agree for a further addition of Rs.10 lacs, which is a sacrifice from the relief granted by the first appellate authority as well as the Tribunal. We, therefore, accept the offer made by the assessee. Assessing Officer will modify the revised orders issued by limiting the relief granted by the CIT (Appeals), which is confirmed by the Tribunal in respect of investment in FD receipts as relatable to Trusts. Appeals allowed
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