2019 (7) TMI 406 - SCH - Income Tax

Assessment u/s 153A - addition u/s 68 - additions made in silver bullion account - GP rate application - HELD THAT - Though the tax implication in the present case is ₹ 50,00,000/- (Rupees fifty lakhs only), learned counsel for the petitioner submits that the other two connected appeals which have been disposed of by the common impugned order raised question of substantial amount of revenue for the Union of India. It is further submitted that separate special leave petitions have been filed against the said common order in the connected appeals, which are pending consideration of the Court. List all the matters together after two weeks, subject to curing of defects in the other two special leave petitions.

Summary

The Supreme Court ordered to list all matters together after two weeks, subject to curing defects in the other two special leave petitions. The tax implication in the present case is Rs. 50,00,000. Separate special leave petitions have been filed against the common order in the connected appeals.