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2011 (1) TMI 528 - HC - Income TaxBogus purchases - During assessment, the Assessee offered additional income which led to making of additions in terms of the statement made - However, the Commissioner of Income Tax invoked the jurisdiction u/s 263 and directed a fresh assessment on the ground that addition made was only of Rs.10 lac, while bogus purchases were of much higher amount - the surrendered amount was finalised in the presence Commissioner of Income Tax and Additional Commissioner of Income Tax - As per the case of Sh. Rajesh Goel v. The Commissioner of Income Tax [2010 -TMI - 75644 - PUNJAB & HARYANA HIGH COURT], the matter is decided against of revenue - Hence, the appeal is dismissed.
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