Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 1996 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1996 (9) TMI 165 - ITAT ALLAHABAD-BExtract: .......e trader is taxable in his hands, but not income which could have accrued. However, this is not the principle being applied here. The principle being applied is that of exposing a colourable device under the guidelines laid down by the Supreme Court in the case of McDowells and Co. Ltd. 23. For the above reasons, the assessee s appeal is dismissed.
|