Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (8) TMI 734 - AT - Income TaxUnexplained investment u/s 69 - Ownership of income - Protective assessment - A.O. has concluded that the transaction in question related to purchase of beetel nut made by DTI [Dinesh Tobacco Industries] and not related to Shri Nand Kishore Malani in any manner - A.O. proposed to assess the income in the hands of DTI on the basis of DRI's finding - Held that:- n there is no scope for making the addition of ₹ 3,75,00,000/- , in the same manner as it was surrendered by Shri Nand Kishore Malani, in the hands of the assessee firm when Shri Nand Kishore Malani has made a surrender of the entire money and he has also paid taxes thereon and has also disclosed this income in his return of income. There is no scope for making any addition either on substantive basis or on protective basis in the hands of the assessee firm or in the hands of M/s Dinesh Pouches Ltd. - Following decision of M/s Dinesh Tobacco Industries Vs. DCIT [2013 (8) TMI 715 - ITAT JODHPUR] - Decided in favour of assessee.
|