JKG Construction Tax Appeal: Undisclosed Income

Quick Summary

The Income Tax Appellate Tribunal heard appeals from the ACIT concerning JKG Construction Pvt. Ltd. for assessment years 2009-10 to 2011-12. The Revenue had appealed the deletion of additions made by the Assessing Officer, who alleged that JKG Construction received amounts in excess of the disclosed sale consideration for flats. These additions were based on documents found during a search and seizure operation, suggesting higher actual sale prices than those declared.

Court :
ITAT Delhi

Brief :
Aggrieved by the orders passed by the learned Commissioner of Income Tax (Appeals)-23 (“Ld. CIT(A)”), in the case of JKG constructions Pvt. Ltd (“the assessee”), for the assessment years 2009-10 to 2011-12, deleting the additions, Revenue preferred these appeals. Since the facts out of which the issues requiring adjudication arise, are identical, we deem it just and proper to dispose these appeals by way of this common order.

Citation :
ITA 3394/DEL/2015

Daily Limit Reached