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2019 (6) TMI 247 - HC - Income TaxRevision u/s 263 - estimation of income - rejection of books of accounts - HELD THAT:- Tribunal found that when the income assessed by the Assessing Officer was far more than the income returned by the assessee, all the investments made by the assessee stood explained. In such an event, the question of estimation of income adopted by the Assessing Officer, being one of the recognized methods of determination of income, could not be found fault as rightly observed by the Tribunal. Therefore, we do not find any perversity in the finding of the Tribunal, so as to answer the first question of law in favour of the Revenue. The second question of law is also only on facts. Therefore, we find no substantial questions of law raising for determination in the appeal. Hence, the appeal is dismissed.
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