The Tax Publishers2020 TaxPub(DT) 0296 (SC)

INCOME TAX ACT, 1961

Section 261 Section 158BC

Where the department preferred SLP to appeal against the judgment of Bombay High Court in Pr. CIT v. Ms. United Shippers Ltd. [ITA No. 407 of 2017, dt. 18-4-2019] : 2020 TaxPub(DT) 543 (Bom-HC), whereby the High Court held that Tribunal noted that disallowances were based only on statements of assessee which were not corroborated by any evidence on record and Tribunal examined every disallowance minutely with reference to materials on record and held that disallowances were totally unjustified, further this issue was based on appreciation of materials on record, thus, no question of law arose, the Supreme Court dismissed the SLP.

Appeal (Supreme Court) - Special leave petition - Search and seizure - Block assessment under section 158BC--Undisclosed income determined by AO by disallowing commission payment

Department preferred SLP to appeal against the judgment of Bombay High court in Pr. CIT v. Ms. United Shippers Ltd. [ITA No. 407 of 2017, dt. 18-4-2019] : 2020 TaxPub(DT) 543 (Bom-HC), whereby the High Court held that Tribunal noted that disallowances were based only on statements of assessee which were not corroborated by any evidence on record and Tribunal examined every disallowance minutely with reference to materials on record and held that disallowances were totally unjustified, further this issue was based on appreciation of materials on record, thus, no question of law arose. Held: The Supreme Court dismissed the SLP.

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