ITO, Ward-30(1), Kolkata Vs. Kamala Nayan Vala
Parties Involved
Facts Summary
The case of the Assessee was reopened and an Assessment order was passed under section 143(3) read with section 147 of the Income Tax Act, 1961, making an addition of Rs.14,01,379/- under section 68 of the Act on the ground that the amount received by the Assessee remained unexplained and was treated as unexplained money from an undisclosed source. The Assessee appealed against the Assessment Order before the Commissioner of Income Tax (Appeals) who allowed the appeal by deleting the addition. The Revenue then filed an appeal against the order of the Commissioner of Income Tax (Appeals).…
Decision in favour of
Partly Assessee / Partly Revenue
Legal Issues
- 1. Whether the addition made by the Assessing Officer was justified?
Judgment Outcome
Decided in favour of Partly Assessee / Partly Revenue.
Precedents Relied Upon
2 precedents cited in this judgement.
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