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2013 (5) TMI 560 - AT - Income TaxIncome from undisclosed sources – Appeal is related to two assessment years - AO made additions in income sustained by Ld. CIT(A) - Addition in income made u/s 153A of the Act - Held that:- Assessee in his statement recorded u/s.132(4) has offered the amount of Rs. 4,21,000/- as his income from undisclosed sources. Further, during the course of assessment proceedings the assessee in his letter addressed to the AO has accepted for the addition to be made in his hands. Under these circumstances and in view of the detailed reasoning given by the Ld. CIT(A) grounds raised by the assessee are dismissed. Levy of interest u/s.234A, 234B and 234C – Held that:- Levy of interest is mandatory and consequential in nature. Thus, appeal is dismissed.
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