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2002 (7) TMI 69 - HC - Income TaxIncome From Undisclosed Sources - Search - "(1) Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in holding that an investment in the name of the assessee's wife may be treated as the undisclosed income of the appellant, where admittedly, the property belongs to the wife, if the wife is not in a position to explain the sources of the investment? - (2) Whether, on the facts and in the circumstances of the case in the absence of a categorical finding that the investment was made by the appellant in the name of the wife, such investment can be deemed to be the undisclosed income of the appellant? - (3) Whether, on the facts and in the circumstances of the case, in so far as any investment the source of which is not explained, can be assessed as an undisclosed income only of the financial year in which such investment is made under section 69A or 69B of the Income-tax Act, in the name of the person, who makes such an investment the conclusion of the Tribunal is right in law? - "Whether on the facts and in the circumstances of the case, there is any material for the Tribunal to hold that the sum of Rs. 3,49,000 representing the estimated family expenses during the block period 1987-88 to 1997-98 represents the undisclosed income of the appellant?"
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