Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2009 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2009 (5) TMI 564 - AT - Income TaxBlock period assessment – Addition of income - In the assessment order passed by the AO under s. 158BC(c) on 30th Nov., 2004, the total undisclosed income was assessed (in the case of M/s Shri Lakshmi Finance) at Rs. 16,17,915 - . The learned Authorised Representative explained that in the present case the very first requirement of non-disclosure of the material did not arise because the assessee had disclosed the transaction in its regular books of account The modus operandi revealed by the evidence found during the search was that the assessee-firms were suppressing the interest and other income and that such 'undisclosed income' was being introduced in the regular books of account as deposits/loans in bogus names – Appeal are dismissed
|