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1970 (11) TMI 38 - HC - Income TaxWhether Tribunal was right in law in entertaining the new contention raised on behalf of the assessee that past intangible additions made in the assessee's case explained the discrepancy in the capital figure - Whether Tribunal was right in law in holding that past intangible additions made in the case of an assessee should be taken into account in considering the unexplained investment made by it - When additions have been made in earlier assessment years towards income from undisclosed sources, the assessee can take advantage of the past intangible additions to explain the source of the alleged undisclosed income – therefore both questions are answered in affirmitive
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