2015 (11) TMI 895

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..... Mr. Rakesh Kumar, Member (Technical) For the Petitioner : Shri Jatin Mahajan, Advocate For the Respondent : Shri R K Grover, DR ORDER Per Ms. Archana Wadhwa After dispensing with the condition of pre-deposit, we proceed to decide the appeal itself inasmuch as the issue stand decided by the earlier decision of the Tribunal as also of High Court. 2. For better appreciation of the order pass .....

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..... he contention is factually as well as legally incorrect. The duty has been demanded on the miscellaneous income shown in the books of account of the appellant company and not recovered as unaccounted cash at the residence of the Directors. A company is a legal entity distinct from the directors and its income cannot be claimed to be income of the Directors. Moreover, once an income is recorded in .....

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..... nerated through illegal activities of manufacture. It is well settled law that clandestine removal has to be established by production of positive evidence. In the absence of any other evidence on record, some disclosure and surrender of income before the Income Tax authorities especially when the appellant had taken a ground that they were also doing other activities for generation of income, can .....

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