Section 69A ::
Court :
HC
Brief :
Held by the Hon`ble Court that, the assessee who is admittedly assessed to wealth-tax cannot be said to have no source of income. Therefore explanation given by assessee is not satisfactory and addition is justified in law.
Citation :
Smt. Dhanvidya A. Dalal Vs. C.I.T.
Section 69A
Smt. Dhanvidya A. Dalal Vs. C.I.T. 08/01/2007
[2007] 294 ITR 277 (Bom)
Case Fact:
Whether, there can be any addition if explanation given by assessee is not satisfactory?
Decision:
Held by the Hon`ble Court that, the assessee who is admittedly assessed to wealth-tax cannot be said to have no source of income. Therefore explanation given by assessee is not satisfactory and addition is justified in law.
CA.Saibaburao Nanduri
Published in Income Tax
Views : 104
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