Supreme Court · 2007 INSC 779 · Decided 24 July 2007
Commissioner of Income Tax, Salem v. K. Chinnthamban
- Court
- Supreme Court of India
- Citation
- 2007 INSC 779 · [2007] 8 S.C.R. 496
- Case number
- CIVIL APPEAL No. 3230/2007
- Decided
- 24 July 2007
- Bench
- S.H. KAPADIA, B. SUDERSHAN REDDY (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 69, 69A, 132
Headnote
Income Tax Act, 1961-Sections 69 and 69A-Firmfloatedfor collecting deposits from pub/ic-Assessee, connected with the firm~ln assessment C proceedings, amount shown as undisclosed income subject to tax uls 69- 0rder of tribunal that since claim made by members of public. income on unexplained since no evidence recording registration of firm, books of account not properly maintained-No explanation by assessee about source of investment-No evidence that members of public placed their D · deposits with the firm through their relatives and friends-A/so the firm as ·well
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