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Onus Shifts on A.O. after assessee discharges onus cast on him by a cogent explanation
Case Law Details
- Case Name
- Commissioner of Income Tax Vs M/s. Gem Granites (Madras High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Madras High Court
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In a recent decision of the Hon’ble Supreme Court in Civil Appeal No. 9772 of 2013, dated 30.10.2013 (Mak Data P. Ltd., vs. Commissioner of Income Tax-II), the Hon’ble Supreme Court while considering the Explanation to Section 271(1), held that the question would be whether the assessee had offered an explanation for concealment of particulars of income or furnishing inaccurate particulars of income and the Explanation to Section 271(1) raises a presumption of concealment, when a difference is noticed by the Assessing Officer between the reported and assessed inco...
The case cited by the author is very useful to take defence in appeal stage & provides very good information about the exact meaning of onus & its shifting and what is what. I am of the strong opinion that every tax professional should keep record of the above cited case.