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2011 (12) TMI 316 - HC - Income TaxA sum to be treated as income of the assessee under Section 68 of the Income Tax Act, pursuant to search had been detected in a search and the assessee had not established the source of the said sum by producing positive evidence? Held that :- M.S.I.L. assessee had written a letter to the Assessing Officer that it has subscribed to the additional share capital - the Department is not making available to the Court the documents that are seized during search in the present case - unexplained share capital contribution even if not genuine cannot be treated as undisclosed income (CIT v. Steller Investments Ltd., 2000 (7) TMI 76 - SUPREME Court )- Appeal was dismissed.
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