Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2014 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (11) TMI 599 - GUJARAT HIGH COURTInterpretation of provisions of Kar Vivad Samadhan Scheme, 1998 – Held that:- During the pendency of revenue appeal, assessee availed the benefit of KVSS, 1988 meaning thereby he has accepted the addition as made by the AO in the assessment order - As a matter of fact assessee, like in the earlier years, could have gone for K.V.S.S. for the assessment year under appeal also - a statement was also required and on that basis AO made the addition - by making declaration under KVSS, 1998 for the A.Y. 1986-87, the assessee has admitted that promissory note of ₹ 1,68,000/- pertains to him - AO is fully justified in taxing interest income on this promissory note for all the assessment years under Appeal – as such no substantial question of law arises for consideration – Decided against assessee.
|