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1987 (12) TMI 68 - ITAT BOMBAY-D
Extract:
.......rve and its explanation for doing so is that it had to be kept confidential from the workmen. Thus, the assessee is taking contradictory stands, one for the workmen and another for the income-tax authority. Again the assessee has utilised a part of this amount for the issue of bonus shares. All these show that the claim of the assessee is baseless.