Case Law Details
Case Name : Shri Kantilal C. Shah Vs. The Asst. CIT Circle- 3 (ITAT Ahemdabad)
Related Assessment Year : 1985- 95
Courts :
All ITAT ITAT Ahmedabad
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Shri Kantilal C. Shah Vs. The Asst. CIT Circle- 3 –
ITAT Ahemdabad
IT (SS) A No. 21/AHD/2009
Block Period: 1-4-1985 to 31-3-1995 &
1-4-1995 to 12-12-1995
O R D E R
PER SHRI MUKUL Kr. SHRAWAT, JUDICIAL MEMBER :
This is an appeal at the behest of the Assessee which has emanated from an assessment order passed u/s. 158BC/143(3) r.w.s.254 of the I.T. Act, 1961 dated 24.12.2008 and the grounds which have been argued before us are as follows:-
1. The Learned Assessing Officer has erred in law and on facts of the case in making addition of Rs. 1,30,700/- during the ye...
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During the course of income tax raid, I surrendered certain Kishan Vikas Patra with a undertaking that same may be used towards tax liabilities/tax dues.I have filed necessary revised returns for six years in persuant to the income tax raid.
I also requested in the said income tax returns that Kishan Vikas Patras may be encashed and proceeds thereof may be adjusted towards tax dues. The income tax authorities have not done so yet.
Kindly advice me/ inform me about certain case law which allows encashment of said Kishan Vikas Patras etc. for adjustment of tax liability.