Subscription   Feedback   New User   Login      
Tax Management India .com
TMI - Tax Management India. Com
Articles Highlights TMI Notes SMS News Newsletters Calendar Imp. Links Database Experts Contact us More....
Extracts
Home List
← Previous Next →

Principal Commissioner of Income-Tax-08 Versus M/s Shruti Fastners Ltd.

2016 (3) TMI 324 - DELHI HIGH COURT

Reopening of assessment - difference between the closing stock as shown in the books of accounts produced and in the account as shown in the document recovered from the CPU - whether figures obtained from the hard disk of the CPU must be given creden .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

inted out that no evidence was found which could substantiate the Revenue's contention that there were either purchases or sales outside the books of accounts. There was no evidence that the Assessee maintained parallel books of accounts. The content .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

d figure of net profit is taken out from the print out of the rough document from the CPU/hard disk and adopted for assessment of total income. Such an approach cannot be approved - Decided against revenue - ITA No. 162/2016 - Dated:- 1-3-2016 - S. M .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

n stands disposed of. ITA No. 162/20163. 3. The Revenue has filed the present appeal against an order dated 5th August, 2015 passed by the Income Tax Appellate Tribunal ("ITAT") in ITA No.1944/Del/2013 for the Assessment Year ("AY" .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

adequate opportunity to the Assessee. 5. Pursuant to a survey undertaken under Section 133A of the Act on 7th September 2006, a hard disk/CPU in the premises of the Assessee was impounded. The CPU showed that the Assessee had received accommodation .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

fresh assessment order was passed on 30th November, 2011 by the AO making an addition on account of undisclosed net profit and computing the total income at ₹ 3,26,86,543/-. The Assessee's appeal was dismissed by the Commissioner of Income .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

hard disk of the CPU must be given credence over the figures in the books of accounts produced before the AO and in particular the stock register maintained by the Assessee. 8. In the impugned order, the ITAT has given cogent reasons as to why the ca .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 

what is new what is new
  ↓     bird's eye view     ↓  


|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version