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Admission u/s 132(4) would suffice to initiate necessary Proceedings
Case Law Details
- Case Name
- JRD Stock Brokers (P) Ltd. Vs CIT (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
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Brief of the Case
Delhi High court in the case of JRD Stock Brokers (P) Ltd. vs. CIT. held that the admission of assessee under Section 132(4) where he admitted about the possession of incriminating material would suffice to initiate the necessary proceedings.
Facts of the Case
The brief facts are that a search operation was carried in the office of assessee. The books of accounts, documents and other materials were seized. The assessee, when called upon to file the return, filed a NIL return for the relevant block period, on 11.10.2002. The AO completed assessment under Section 158BC(c) whi...
