A O must give evidence that assessee received amount more than he disclosed for the application of Sec 260A of IT Act 1961
Court :
HIGH COURT OF DELHI
Brief :
This is an appeal under Section 260A of the Income Tax Act, 1961 (for short, “the ct”) against the order dated 25.4.2008 passed by learned Income Tax Appellate Tribunal (“the Tribunal” for short) in Appeal No.1056/DEL/2006 for the assessment year 2002-2003. The appeal was admitted on the following substantial question of law:
“Whether the learned ITAT erred in law and on merits in restricting the addition on account of difference in sale consideration of unquoted shares to Rs.1,71,000/- by totally ignoring the value as itself declared by the assessee?”
Citation :
THE COMMISSIONER OF INCOME TAX …… Appellant Versus RAJENDRA SECLEASE LTD … Respondent
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CS Bijoy
Published in Income Tax
Views : 1550
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