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Undisclosed income of the partnership firm can not be assessed in the hand of the partners
Case Law Details
- Case Name
- ACIT Vs Shri K. T. Joseph (ITAT Cochin)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All ITAT, ITAT Cochin
RELEVANT PARAGRAPHS
1. On account of difference of opinion between the learned Members of Income-tax Appellate Tribunal, Cochin Bench, the following question has been referred to me:
“Whether, in the facts and circumstances of the case, the CIT(Appeals) is justified in holding that no addition can be made in the hands of the assessee towards undisclosed income from the liquor business carried on by the firms M/s. Malabar Associates. ?”
2. In my view the answer to the question is self-evident as it is a question of addition of undisclosed income from business admittedly “carr...
