Pr. CIT v. Rawmin Mining & Industries (P) Ltd.

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The Tax Publishers2020 TaxPub(DT) 0682 (Guj-HC) : (2020) 274 TAXMAN 0427

INCOME TAX ACT, 1961

Section 68

Tribunal had taken into consideration the applicability of section 68 so as to make addition of the alleged amount under-invoicing by AO. Considering the findings recorded by Tribunal, no question of law, much less the substantial question of law arises.

Income from undisclosed source - Addition under section 68 - Under-invoicing of exports of iron ores -

Issue arose for consideration as to whether Tribunal had erred in deleting the addition of Rs. 3,46,66,804 on account of under-invoicing of exports of iron ores. Held: Tribunal had taken into consideration the applicability of section 68 so as to make addition of the alleged amount under-invoicing by AO. Considering the findings recorded by Tribunal, no question of law, much less the substantial question of law arises.

REFERRED :

FAVOUR : In assessee's favour

A.Y. :

IN THE GUJARAT HIGH COURT