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Case Law Details

Case Name : Pr. CIT-2 Vs. Parshwa Enterprises (Gujarat High Court)
Appeal Number : Tax Appeal No. 372 of 2017
Date of Judgement/Order : 19/06/2017
Related Assessment Year :
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Pr. CIT Vs. Parshwa Enterprises (Gujarat High Court)

Revenue is in appeal against the judgment of ITAT dated 9-6-2016, raising following questions for consideration :–

“(A) Whether on the facts and in the circumstances of the case and in law, the decision of ITAT in deleting the addition made on the basis of statements of the partners of the firm quantifying the unaccounted expenditure in land development is justified ignoring that the statements were recorded on oath without any coercion, harassment or threat and the disclosure was made on voluntary basis.

(B) Whether on the facts and in the circumstances of the case and in law, the decision of Hon’ble ITAT in deleting the addition on the basis of the retraction by the assessee after a gap of 26 months is justified ignoring that the retraction filed is an after though to deprive the revenue from due amount of tax.”

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