Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (9) TMI 538 - AT - Income TaxEligibility for immunity under provision of Explanation 5 to Section 271(1)(C) - whether the assessee had offered the undisclosed income in the statement recorded u/s. 132(4) during the course of search or in a separate letter filed to the department on 02.08.2006? - CIT(a) allowed immunity - Held that:- The only objection of the Revenue that the assessee has not specified in its statement, the manner in which such income has been derived is baseless as it has been categorically observed by the ld. CIT(A) that in answer to question nos. 14 to 17, it has been specifically mentioned the manner, in which the undisclosed income has been derived. Under these facts and circumstances, we do not find any infirmity in the order of the CIT(A) and he has rightly followed the decision of CIT vs. Mahendra C. Shah [2008 (2) TMI 32 - GUJARAT HIGH COURT]. Decided against revenue. 6. In the result, the Revenue’s appeal is dismissed.
|