2015 (1) TMI 1400 - SCH - Income Tax

Unexplained cash credits u/s 68 - Whether the Tribunal was right in deleting the addition u/s 68 by applying correct principles company who take the decisions, controls and manage them - HC held apparent, patent, and conspicuous facts were ignored by the first appellate authority and the Tribunal - section 68 of the Act was rightly invoked and is applicable - Held that - Leave granted.

Summary

The Supreme Court of India granted leave and tagged the case with Civil Appeal No. 195 of 2015 arising from SLP(C) No. 25549 of 2012. J. Chelameswar and R.K. Agrawal were the judges presiding over the case. S. Krishnan and Mrs. Rani Chhabra represented the petitioner.