2007 (9) TMI 20 - HC - Income Tax

Taxable income Addition of amount stated to have been received by the assessee rightly upheld by the ITAT Held addition was correct

Summary

The High Court of Punjab and Haryana upheld the Income Tax Appellate Tribunal's decision regarding the addition of certain amounts to the assessee's income for assessment year 1989-90. The Tribunal concluded that the assessee failed to explain the source of the amounts, justifying the additions. The Court returned the questions unanswered as there was no basis to challenge the Tribunal's findings.