Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2014 (6) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (6) TMI 476 - HC - Income TaxFailure to provide opportunity of being heard Relevant materials could not be produced - Addition made in the hands of firm Money belonged to individual partners or not - Held that:- The Tribunal was rightly of the view that no further evidence was furnished before the tribunal and it has been noted and an addition has been upheld by the Tribunal - The Tribunal has limited power of correcting any apparent mistake of record while deciding the miscellaneous application filed u/s 254(2) of the Act - the second plea of the applicant that it has not provided sufficient opportunity of hearing is not correct - the money introduced in the names of the partners was in fact earned by the firm from its business of Cold Storage and was its unaccounted income - no material had been produced to show that partners had independent source of income. The assessee-firm in spite of several opportunities having been provided to it to produce the partners so that confirmation of introduction of cash by them could be verified, had failed to comply with it - the assessee had not furnished the addresses of the farmers from whom Cold storage rent is alleged to have been received as the assessee had been carrying on the business of cold storage for the last at least more than 10 years - no receipts in support of the receipt of rent from the farmers had been produced thus, the order of the Tribunal is upheld Decided against Assessee.
|