2020 (3) TMI 510 - SC - Income Tax

Determination of additional income - notional sales - value of the unaccounted purchases made by the assessee - HELD THAT - Learned counsel for the petitioner, on instructions issued by the Department of Revenue, Ministry of Finance vide F.No.390/Misc./116/20l7-JC dated 22.08.2019, seeks permission to withdraw this special leave petition along with pending applications therein due to low tax effect. Permission granted, subject to just exceptions. The special leave petition and pending applications are dismissed as withdrawn, leaving question(s) of law open.

Summary

The Supreme Court allowed the petitioner to withdraw the special leave petition and pending applications due to low tax effect. The petition and applications were dismissed as withdrawn, leaving questions of law open.