Case Law Details
Citation: Commissioner of Income Tax Vs. Dhingra Metal Works [DELHI HIGH COURT, 04 Oct 2010]- ITA No. 1111/2010
Court: DELHI HIGH COURT
J U D G M E N T
1. The present appeal has been filed under Section 260A of Income Tax Act, 1961 (for brevity “Act”) challenging the order dated 4th January, 2010 passed by the Income Tax Appellate Tribunal (in short “Tribunal”) in ITA No. 2033/Del/2009 for the Assessment Year 2005- 2006.
2. Briefly stated the relevant facts of the present case are that on 14th September, 2004, a survey under Section 133A of the Act was conducted out on the respondent- assessee?s business premises. During the course of survey, the tax officials noticed some discrepancies in stock and cash in hand. During the said survey, respondent- assessee surrendered an amount of Rs. 99,50,000/- and offered the same for the purposes of taxation. The additional income offered included a sum of Rs. 45,00,000/- on account of excess stock found during the course of survey and offered by one of the partners of the respondent- assessee as additional income.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Under which section does the points mentioned by you come under. Well what if the tax was paid in foreign country (UK), do we still need to pay the taxes in India.
Please suggest