Unaccounted income disclosed during the course of survey - In ...

Court Confirms Unaccounted Income from Sarees Business; Initial Disclosure Stands as New Facts Rejected by Appellate Court.

April 14, 2021

Case Laws Income Tax AT

Unaccounted income disclosed during the course of survey - In the present case, not only one partner of the assessee made discloser of additional undisclosed income, but it was endorsed by two other partners in presence of their CA. - During first appellate stage the assessee try to introduce new facts that the undisclosed additional income was earned from the business of sarees and dress material for which no separate accounts were maintained. - If the mistake was realised later on the statement should have been retracted immediately. - Additions confirmed - AT

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Unaccounted income disclosed during the course of survey - In ...

Court Confirms Unaccounted Income from Sarees Business; Initial Disclosure Stands as New Facts Rejected by Appellate Court.

April 14, 2021

Case Laws Income Tax AT

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