Dismissing the appeal of the Revenue the Court held that\u00a0 the dispute has arisen only with respect to the relevant\u00a0 assessment year . However , the ITAT has held that said amount was\u00a0 declared at the behest of the Revenue\u00a0 and the calculation of the peak credit was also at the behest of the tax authorities . Tax rate in both the assessment year is same\u00a0 there is no loss to the revenue . Order of Tribunal affirmed . (ITA No. 3917 \/ Del\/ 2017 & 6628 \/Del\/ 2017 dt 16 -9 -2022 )( AY. 2006 -07 , 2007 -08 )<\/p>\n
\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" S. 69 :Unexplained investments -Peak credit \u2013 Amount disclosed and offered in one assessment year \u2013 Revenue bifurcating in to two assessment year \u2013 Rate of tax in same in both assessment year \u2013 Appeal of Revenue dismissed as there is no loss to Revenue . [ S. 132(4)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-30848","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-81y","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/30848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=30848"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/30848\/revisions"}],"predecessor-version":[{"id":30849,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/30848\/revisions\/30849"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=30848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=30848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=30848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}