| COURT: | ITAT Mumbai |
| CORAM: | B. R. Baskaran (AM), D. Manmohan VP |
| SECTION(S): | 45 |
| GENRE: | Domestic Tax |
| CATCH WORDS: | Human Probability, Penny Stocks |
| COUNSEL: | Mandar Vaidya |
| DATE: | September 26, 2014 (Date of pronouncement) |
| DATE: | October 4, 2014 (Date of publication) |
| AY: | 2006-07 |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| AO can assess on consideration of material available on record, surrounding circumstances, human conduct, preponderance of probabilities and nature of incriminating information / evidence available on record | |
We have already seen that the tax authorities have applied the test of human probabilities explained by the Hon’ble Supreme Court in the cases of Sumati Dayal and Durga Prasad More (supra) to disbelieve the claim of Long term Capital …
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