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2012 (6) TMI 206 - KARNATAKA HIGH COURTBlock Assessment - Estimation of the undisclosed income - based on the admission made by the Manager/ Managing partner which is to the effect that the practice of the assessee was to reflect 75% of his business turnover in the books of account – Held that:- irregularity or illegality or anything wrong in law in the Tribunal directing the undisclosed income being computed based on the admission made by the very assessee. Insofar as the assessment of profit on the undisclosed part of the income is concerned, making it at 25% cannot be found fault with Whether income assessed twice i.e., both in the regular assessment and in the block period – Held that:- undisclosed income being taken at 25% over and above the disclosed turnover attributable to the turnover as reflected in the books of account and that being an admission of the assessee and the profit worked out at 25% on the undisclosed turnover, there is absolutely no scope to contend that the same income has been subjected to tax twice cannot succeed. Decided in favour of the revenue. Appeal dismissed
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