9911796707
TMI Blog2010 (10) TMI 77X X X X Extracts X X X X X X X X Extracts X X X X ..... nt cannot be assessed in the year under consideration simply on the ground that it was received in the year under consideration - appeal is dismissed - 1511/2010 - - - Dated:- 1-10-2010 - CORAM:HON'BLE THE CHIEF JUSTICE HON'BLE MR. JUSTICE MANMOHAN Mr. Sanjeev Sabharwal, Advocate MANMOHAN, J. 1. The present appeal has been filed under Section 260A of Income Tax Act, 1961 (fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the aforesaid amount as income of the respondent-assessee in the earlier year. 4. In fact, the Tribunal in its impugned order has observed as under:- "7. We have carefully considered the rival contentions in the light of the material placed before us. A finding has been recorded by the Ld. CIT(A) that a sum of Rs.30,47,600.50 was outstanding in the books of the assessee in the name of MKM Fins ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich represented sale proceeds of shares, in respect of which income was already shown in earlier year, is incorrect. The claim of the assessee that the amount which is added to its income represented sale proceeds of share sold in immediate preceding year has not been shown to be false or incorrect by the revenue. It is also not shown by the revenue that the said amount was not assessed as income ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
