Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2014 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (4) TMI 847 - HC - Income TaxAddition u/s 69 of the Act – Unexplained investment – Purchase of clothes for processing and bob charges paid – Evasion of excise duty – Held that:- Tribunal rightly held that there is no basis with the AO for drawing adverse conclusions - Though the Excise authorities have quantified the amount of duty evasion, there is no material on record to suggest that the assessee did collect the amount from its customers – assessee submitted that it did not claim the amount as expenditure in its Profit and Loss account - the AO could not make any addition of the amount of Excise duty evasion quantified by the Excise authorities - the tribunal’s view is based on material on record and gives rise to no question of law – Decided against Revenue.
|