Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2020 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (3) TMI 129 - HC - Income TaxUnexplained income - declaration made by another party before the Settlement Commission - HELD THAT:- Assessee need not to be asked to explain the entries or notings in the books of a third party. In the absence of any other independent material to corroborate the statement of Shri Bhikhubhai Padsala made before the Settlement Commission, it would not be prudent to take the view that there was a transaction between the assessee and Shri Bhikhubhai Padsala in cash with regard to the purchase of certain parcels of land. CIT(A) relied upon the decision of the Delhi High Court in the case of CIT Vs. Vineeta Gupta [2014 (5) TMI 543 - DELHI HIGH COURT] wherein, the view taken is that the declaration made by another party before the Settlement Commission is not binding upon the assessee, therefore, no additions can be made in absence of any independent material. Question of law as proposed by the Revenue cannot be termed as a substantial question of law.
|