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2005 (7) TMI 44 - HC - Income TaxCash credits - "Whether the Tribunal was justified in adding the cash credits in the income of the assessee when persons in whose names were the cash credits, had declared the same under amnesty scheme and had also been assessed as such on the respective amount credited in the account, despite the fact that those persons were closely related to the partners of the assessee-firm?" - So far as the addition relating to the deposit of Sri Anil Kumar Gupta is concerned, we find that the Tribunal has not examined the matter properly. Admittedly, Sri Anil Kumar Gupta was an income-tax assessee and was carrying on the business. He has not denied the deposit in the firm. The interest paid on such deposit has not been disallowed. Therefore, we are of the opinion that the Tribunal should examine the matter afresh in the light of the observations made above
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