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2014 (2) TMI 130 - HC - Income TaxAdditions made u/s 68 of the Act – Held that:- The capital was introduced by the partners - The Assessing Officer did not bring any material to indicate that the partners had no capacity to introduce such capital - the Assessing Officer did not hold that the capital was, in fact, not introduced by the partners, but it was only in disguise the cash credit of the firm - the partners were also subjected to tax assessment - Their assessment orders were placed on record, which showed that in the return of income, they declared the income from agricultural operations – Relying upon COMMISSIONER OF INCOME-TAX Versus PANKAJ DYESTUFF INDUSTRIES [2005 (7) TMI 601 - GUJARAT HIGH COURT] - the assessee had furnished the details, which would discharge the onus which lay on the assessee – Decided against Revenue.
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