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2004 (3) TMI 44 - HC - Income TaxUndisclosed income of the block period - income disclosed on payment of advance tax - disclosure of income - Revenue could not point out any provision on the basis of which we can hold that the income disclosed on payment of advance tax cannot be treated as disclosure of income, by virtue of a particular statutory provision under Chapter XIV-B – We hold that the income disclosed on account of payment of the advance tax cannot be held to be undisclosed income for the purposes of block assessment. The appeals of the assessees are allowed to that extent and the assessment orders would be modified taking the income on payment of advance tax as disclosed income and not as the undisclosed income for the assessment year 1995-96.
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