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Case Law Details

Case Name : Bhandari Hospital and Research Centre (ITAT Indore)
Related Assessment Year : 2012-13
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Bhandari Hospital and Research Centre (ITAT Indore)

Conclusion: When it was presumed that investment in hundi was bogus in such a situation there was no money available for the investment made by the assessee as such amount surrendered was not available, therefore, this proved that donation was made out of business receipts, which was an allowable expenditure.

Held: During the course of survey undisclosed income was surrendered by assessee through its partners under different heads. O

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