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2011 (9) TMI 546 - HC - Income TaxValidity of remand - Unexplained Credits - Share application received - Doubt about genuineness of transaction - In assessment no information supplied - Assessee avoided meeting before CIT(A)- Tribunal noted assessee intentionally did not produce the Director - Held That:- assessee intentionally withheld information. - Quantum of amount involved was high, that is hardly a ground or justification for restoring and giving premium to the assessee for its negligence Tribunal itself concluded that the assessee was non-cooperative, it can naturally be safely concluded that the assessee did not want to produce evidence. - Additions made by AO were confirmed.
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