| Case ID |
2bffefc1-6ec7-4e33-9d69-30248d477dae |
| Body |
View case body. Login to View |
| Case Number |
I. T. A. No. 18/Chandi/2001 |
| Decision Date |
Oct 31, 2007 |
| Hearing Date |
|
| Decision |
The appeal was dismissed as the assessee failed to provide a satisfactory explanation regarding the addition of Rs. 3,18,000 made by the Assessing Officer due to undisclosed income from miscellaneous items. The findings of the Assessing Officer, the Commissioner (Appeals), and the Tribunal were upheld, with no substantial question of law arising from the case. The Tribunal's decision to sustain the addition was deemed valid as the assessee did not challenge the correctness of the findings adequately. |
| Summary |
In the case of Hazari Lal vs. Commissioner of Income Tax, the Punjab and Haryana High Court examined the appeal regarding the block assessment under Section 158B of the Income-tax Act, 1961. The appeal arose from an order dated October 31, 2007, by the Income-tax Appellate Tribunal, which confirmed the addition of Rs. 3,18,000 to the assessee's undisclosed income based on seized documents. The court found that the assessee failed to provide a satisfactory explanation for the discrepancies noted in the seized documents, which included various miscellaneous items. The court ruled that the concurrent findings of the Assessing Officer, Commissioner (Appeals), and Tribunal did not reveal any errors or perversity, thus dismissing the appeal. This case emphasizes the importance of providing credible explanations in tax assessments and highlights the rigorous scrutiny applied by tax authorities in cases of undisclosed income. Key legal terms include block assessment, undisclosed income, and the procedural aspects of the Income-tax Act, 1961. |
| Court |
Punjab and Haryana High Court
|
| Entities Involved |
Not available
|
| Judges |
ADARSH KUMAR GOEL,
AJAY KUMAR MITTAL
|
| Lawyers |
Pankaj Jain,
Yogesh Putney
|
| Petitioners |
Hazari Lal
|
| Respondents |
Commissioner of Income Tax
|
| Citations |
2011 SLD 2641 = (2011) 334 ITR 290
|
| Other Citations |
Not available
|
| Laws Involved |
Income-tax Act, 1961
|
| Sections |
158B,
132(1),
158BC,
260A
|