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2018 (7) TMI 295 - HC - Income TaxAddition on account of undisclosed income as disclosed during the course of survey u/s. 133A - assessee contended that the firm is following Project Completion Method of accounting and the income would be offered to tax as and when the final sale deeds are registered - Commissioner of Income Tax (Appeals) deleted such addition which was confirmed by the Tribunal - Held that:- Revenue only objects to the stand of the assessee on the ground that in his statement, the partner of the firm had disclosed the entire amount as the income of the current year. We have noticed that the contents of the statement, in which, while agreeing that the said sum of ₹ 26.05 crores was the undisclosed income of the assessee for the current year, he added a clarification that the same would be subject to execution of the sale deeds. We therefore find no error in the view of the Tribunal. Appeal dismissed.
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