2018 (11) TMI 1651 - HC - Income Tax

Undisclosed investment/loan and interest - HELD THAT - Tax appeals are admitted for consideration of following substantial question of law Whether on the facts and in the circumstances of the case and in law, the Hon'ble ITAT was justified in upholding additions on account of undisclosed investment/loan and interest, when the same were made solely on account of certain entries in documents belonging to a third party? Registry is directed to communicate a copy of this order to the Tribunal. This would enable the Tribunal to keep the papers and proceedings relating to the present appeal available, to be produced when sought for by the Court.

Summary

The High Court of Bombay admitted tax appeals to consider the substantial question of law regarding undisclosed investments/loans and interest based on entries in documents belonging to a third party. The Court directed the Registry to provide a copy of the order to the Tribunal for further proceedings.