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2009 (3) TMI 501 - HC - Income TaxUnexplained money- The assessee which derived income from carriage contract for the assessment year 1996-97, filed a return disclosing total income of Rs. 5,76,133. After hearing the assessee the Assessing Officer added a sum of Rs. 1,04,7,720.30 to its income being the value of bitumen short supplied by the assessee to the various divisions of the Road Construction Department of the Government of Bihar. The assessee appealed before the Commissioner (Appeals) who deleted the additions. On appeal by the department, the Appellate Tribunal on the basis of claim of non-delivery by the executive engineers of the Road Construction Department before the Assessing officer repelled the plea of the assessee that it had delivered the bitumen. Held that- the assessee was in the business of contract carriage and in that capacity it lifted the bitumen to be supplied to the Road Construction department but having not supplied it to the owner, the assesee was the owner of the bitumen within the meaning of section 69A of the Act. The condition precedent for invoking section 69A of the Act existed and it would be liable to pay tax on the value of bitumen. Therefore, the confirmation of addition u/s 69A of the Act amounting to Rs. 1,04,71,720 was legal and valid.
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