Negligent Assessee should not be given many opportunities just because that quantum of amount involved is high

Advertisement CIT Vs. Gold Leaf Capital Corporation Ltd. (Delhi HC) – Tribunal noticed that there were two coursed open to it. First course was to draw an adverse inference against the assessee and second course was to restore the matter back to the AO. It chose second course only on the ground that the quantum of amount involved was high, that is hardly a ground or justification for restoring and giving premium to the assessee for its negligence. In fact, it is a clear case where adverse inference should have been drawn. When the Tribunal itself concluded that the assessee was non-c...