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2012 (4) TMI 283 - KERALA HIGH COURTWhether Tribunal was justified in canceling assessment of undisclosed income for the broken period for which, time for filing return was not over as on date of search – first installment of advance tax paid by assessee in respect of the income of the previous year in which search took place, even before date of search – Held that:- Since advance tax is paid in respect of an item of income, it cannot be said that the assessee intended to suppress it's income merely because accounts are not written up. So much so, payment of advance tax on estimated income is sufficient to exclude such income from the scope of undisclosed income for the broken period of the previous year for which, time for filing of return was not over as on the date of search – Decided against the Revenue.
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