This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Additions for undisclosed investment could without doubting the genuineness of documents produced not justified
Case Law Details
- Case Name
- Commissioner of Income Tax Vs M B Patel (Gujarat High Court at Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Gujarat High Court
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Assessee in his return submission dated 6.11.2009 had explained that the purchase of 2 JCB machines were made from Yantraman Automac Pvt.Ltd., Baroda and both these purchases were on hypothecation with Centurion Bank of Punjab. The purchase bills also reflected hypothecation with the Bank. The company was established from 1998 and the Centurion Bank of Punjab eventually merged with HDFC Bank. The Tribunal also noted that the books of accounts were audited under section 44AB and the Tax Audit Report under the said provision had been duly furnished before the Assessing Officer, which was also ev...
