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2004 (9) TMI 55 - HC - Income TaxAdditions of the share capital as undisclosed income of the assessee - despite the explanation in terms of section 68 furnished by disclosing the list of subscribers along with the particulars of the permanent income-tax account number wherever available and the numbers of shares allotted and the face value of the shares, the Assessing Officer added the share capital as undisclosed income of the assessee without arriving at any conclusion as to the question whether the explanation was satisfactory or not - Tribunal shall examine the record of the Assessing Officer and find out as to whether such explanation was filed before the Assessing Officer before the assessment was made – matter remanded – appeal of assessee is allowed
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