Supreme Court · 2007 INSC 662 · Decided 23 May 2007
Assistant Commissioner of Income Tax v. Rajesh Jhaveri Stock Brokers PVT. LTD.
- Court
- Supreme Court of India
- Citation
- 2007 INSC 662 · [2007] 7 S.C.R. 765
- Case number
- CIVIL APPEAL No. 2830/2007
- Decided
- 23 May 2007
- Bench
- ARIJIT PASAYAT, D.K. JAIN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 143(1), 147
Headnote
l3 ; Income Tax Act, 196I: Section 147 (as it stood w.e.f 01.04.1989)-Income escaping c assessment-Reason to believe-Assessment year 2001-02-Assessee, a private limited company, filed its return declaring a total loss of a certain amount- The said return was processed under S. 143(1) accepting the 148 was issued on the ... ground that the claim of bad debts as expenditure was not acceptable-A return of income declaring the loss at the same figure, as declared in the D original return, was filed by the assessee under protest-A copy of the ,\ reasons recorded was furnished by the Assessing
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