2010 (9) TMI 186 - HC - Income Tax

Income from undisclosed sources - assessee had sold the shares during the last Assessment Year 2000-01 and the income arising therefrom had been accepted by the Department in that year - no opportunity for cross-examination was provided to the assessee - assessment order has been right set aside - Accordingly, the present appeal is dismissed.

Summary

The High Court dismissed an appeal challenging an order by the Income Tax Appellate Tribunal regarding the addition of income from undisclosed sources. The Tribunal's decision to delete the addition was upheld due to lack of opportunity for cross-examination and previous acceptance of income by the Department. The appeal was dismissed in limine.