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Mere disclosing amount of any income or loss without disclosing particulars of

Started by CA.BHUPENDRASHAH, August 06, 2010, 02:12:50 PM

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CA.BHUPENDRASHAH

Mere disclosing amount of any income or loss without disclosing particulars of
income or loss cannot be said to be a full and true disclosure of facts for
purpose of determining total income under Income-tax Act


Merely because the assessee is not required to disclose the particulars of sale
and purchase of units in audit report obtained under the Companies Act, it
cannot be a bona fide reason or an excuse for not disclosing the same in the
statement of accounts or any annexure filed along with the return of income for
the purpose of determining the total income under the Act



[2010] 6 taxmann.com 79 (New Delhi - ITAT)
ITAT DELHI BENCH `G': NEW DELHI
Survidhi Financial Services Ltd.

v.

ACIT

ITA No. 12/Del of 2010

May 26, 2010