If there is no failure on the part of assessee to disclose income, there was no escapement of income
Case Law Details
Case Name : CIT Vs. Bhushan Capital and Credits Services Ltd. (Delhi High Court)
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All High Courts Delhi High Court
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CIT Vs. Bhushan Capital and Credits Services Ltd. ITA No. 751/2011, Date of Decision: 01-02-2013, High Court of Delhi
We find from a perusal of the assessment order that the assessee had declared the amount of Rs. 5,10,130/- in its return of income as short term capital gains on sale of shares. In the reopened assessment, the AO has taken the view that the amount in fact did not represent any capital gains on sale of shares, but represented the undisclosed income of the assessee brought in by means of an acc
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