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| The Tax Publishers2020 TaxPub(DT) 3391 (SC) : (2020) 273 TAXMAN 0087 INCOME TAX ACT, 1961
Section 261 & 153C
Where the Department preferred SLP to appeal against the judgment of Gujarat High Court in Pr. CIT v. Himanshu Chandulal Patel (2019) 419 ITR 132 (Guj-HC) : 2019 TaxPub(DT) 5203 (Guj-HC), whereby the High Court held that where AO made addition to assessee's income in respect of unexplained capital gain on transfer of shares on basis of documents seized during course of search of another person, since AO failed to show nexus on basis of cogent material between documents seized and assessee, impugned addition was to be deleted, the Supreme Court dismissed the SLP, however, keeping the question of law open.
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Appeal (Supreme Court) - Special leave petition - Proceedings under section 153C - Addition on acount of undisclosed capital gain on transfer of shares
Department preferred SLP to appeal against the judgment of Gujarat High Court in Pr. CIT v. Himanshu Chandulal Patel (2019) 419 ITR 132 (Guj-HC) : 2019 TaxPub(DT) 5203 (Guj-HC), whereby the High Court held that where AO made addition to assessee's income in respect of unexplained capital gain on transfer of shares on basis of documents seized during course of search of another person, since AO failed to show nexus on basis of cogent material between documents seized and assessee, impugned addition was to be deleted. Held: The Supreme Couurt dismissed the SLP, however, keeping the question of law open.
REFERRED :
FAVOUR : SLP dismissed.
A.Y. :
IN THE SUPREME COURT OF INDIA
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