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2010 (2) TMI 636 - HC - Income TaxUnexplained expenditure - Mistake in Balance Sheet - The statements on the affidavits of the typist as well as the chartered accountant clearly reveal that the typist has committed the mistake in typing the figures of consumption during the year. The chartered accountant, being a professional, having his responsibility of submitting of a correct report, when a mistake was committed, which was admitted by him as well as his typist, there is no reason not to believe these vital documents. Considering the facts of the case and looking to the approach adopted by the Tribunal, the court has no hesitation to hold that the impugned order passed by the Tribunal is devoid of any merit, based on assumptions and presumptions and relevant evidence are not considered. - Tribunal was not right in law in upholding the addition of Rs. 17,50,00,000 as unexplained expenditure under section 69C of the Act as there was no evidence before the Tribunal to hold that the appellant-assessee had incurred unexplained expenditure of Rs. 17,50,00,000 in purchase of rough diamonds. Addition not justified
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