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2012 (6) TMI 646 - HC - Income TaxUnexplained investment – during the course of survey an unexplained cash and unexplained stock have been discovered - appellant-assessee failed to submit cogent explanation – Held that:- ingredients of sections 69, 69A, 69B and 69C were satisfied in the present case because in all these provisions what is provided is that if an assessee is found to be the owner of any money, jewellery or any other valuable articles not recorded in the books of account and fails to offer any explanation about the nature and source thereof or in case any such explanation, if offered, is not satisfactory in the opinion of the Assessing Officer, then this may be deemed to be the income of the assessee for such financial year – In favor of Revenue
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