2019 (7) TMI 271 - SCH - Income Tax

Assessment u/s 153C - Additions on the account of alleged unaccounted cash receipt - project completion method of accounting - Method of accounting, regularly followed by the Assessee - HELD THAT - We see no reason to interfere with the impugned order passed by the High Court. Accordingly, the special leave petition is dismissed. However, there shall be liberty to the petitioner to proceed for recovery of amount under claim to be taxable in the Assessment Year 2006-07 u/s 153(6) of the Income Tax Act, 1961.

Summary

The Supreme Court dismissed the special leave petition, allowing the petitioner to proceed with the recovery of the taxable amount for Assessment Year 2006-07 under Section 153(6) of the Income Tax Act, 1961.