Delhi H.C : Where Assessing Officer in reassessment proceedings treated share application money received by assessee as unexplained cash credit under section 68 and added same to its income, since in reasons recorded there was no specific allegation that assessee had failed to truly disclose any material facts at time of assessment, reassessment proceedings were illegal and without jurisdiction

High Court Of Delhi CIT – III vs. Suren International (P.) Ltd. Assessment Year : 2002-03 Section : 147, 68 Badar Durrez Ahmed And Vibhu Bakhru, JJ. IT Appeal No. 289 Of 2012 May 7, 2013 JUDGMENT Vibhu Bakhru, J. – This appeal under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as…

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