Taxability of unaccounted sale of scrap under the Income Tax Act

Last updated: 13 September 2021
Quick Summary
This Income Tax Appellate Tribunal ruling addresses the taxability of unaccounted sales of scrap. The Tribunal dismissed appeals by the revenue concerning assessment years 2002-03 and 2003-04. The decision clarifies that assessments in these cases were completed, not abated, meaning any additions by the revenue must be based on evidence found during search actions.

Court :
ITAT Delhi

Brief :
The present appeals have been fi led by the revenue against the orders of ld. CIT(A)-III, Delhi dated 15.09.2011 and 05.10.2011.

Citation :
ITA No. 5866/Del/2011 : Asstt. Year : 2002-03

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