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| The Tax Publishers2020 TaxPub(DT) 2486 (SC) : (2020) 269 TAXMAN 0202 INCOME TAX ACT, 1961
Section 261 Section 68
Where the assessee preferred SLP to appeal against the judgment of Himachal Pradesh High Court in JMJ Essential Oil Co. v. CIT [ITA No. 11 of 2012 & ITA No. 30 of 2014, dt. 5-11-2018] : 2018 TaxPub(DT) 7492 (HP-HC), whereby the High Court held that it was not the case of assessee that product was manufactured or sold for seasonal consumption or that such sales could have been effected only in the particular months of the respective years that the fact of huge cash transactions in a particular month of only two years remained unexplained and AO was justified in making addition under section 68, the Supreme Court dismissed the SLP.
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Appeal (Supreme Court) - Special leave petition - Income from undisclosed sources - Addition under section 68--Huge cash transactions in a particualr month of two years
Assessee preferred SLP to appeal against the judgment of Himachal Pradesh High Court in JMJ Essential Oil Co. v. CIT [ITA No. 11 of 2012 & ITA No. 30 of 2014, dt. 5-11-2018] : 2018 TaxPub(DT) 7492 (HP-HC), whereby the High Court held that it was not the case of assessee that product was manufactured or sold for seasonal consumption or that such sales could have been effected only in the particular months of the respective years that the fact of huge cash transactions in a particular month of only two years remained unexplained and AO was justified in making addition under section 68.Held:The Supreme Court dismissed the SLP.
REFERRED :
FAVOUR : SLP dismissed.
A.Y. :
IN THE SUPREME COURT OF INDIA
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