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2015 (11) TMI 285 - HC - Income TaxAddition made on the statements recorded during search proceedings - ITAT deleted the addition - Appellate Tribunal's finding to the effect that the other concerns were not benami of the assessee is borne out from the record - Held that:- Considering the principal laid down in the case of Kailashben Manharlal Chokshi (2008 (9) TMI 525 - GUJARAT HIGH COURT),we are of the considered opinion that the view taken by the Tribunal is just and proper. We are not convinced with the submissions made by Mr. Mehta, learned advocate for the appellant that the Tribunal has not given cogent reasons. Therefore, the answer to the first question would be against the Revenue and in favour of the assessee. The second question will also enure for the benefit of the assessee as from the record it is clear that other concerns were not Benami concerns of the assessee. For the forging reasons, the present appeal is dismissed. - Decided in favour of assessee.
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