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2013 (2) TMI 45 - HC - Income TaxUndisclosed purchases of Gold and Silver ornaments - assessee did not file its return of income voluntarily but filed the same in response to notice issued u/s 148 - ITAT deleted the addition - Held that:- CIT(A) had accepted the explanation given by the assessee as in the sales tax assessment, the assessee had disclosed the purchases for the relevant assessment year to the extent of Rs. 3,12,817/- and for the previous years it was disclosed at Rs. 12,32,997/-. Thus, no adverse inference can be drawn that the assessee had made purchases worth Rs. 12,32,997/- during the assessment year in question, which finding has been upheld by the Tribunal. The findings recorded by the CIT(A) as upheld by the Tribunal, are based on appreciation of evidence and material on record and do not suffer from any legal infirmity. The order of the Tribunal does not give rise to any substantial question of law - in favour of assessee.
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