https://www.taxtmi.com/caselaws?id=220631 The High Court dismissed the appeal challenging the Income Tax Appellate Tribunal's decision to add an undisclosed sale amount. The Court upheld the Tribunal's findings that the company had a history of using fake hundies for temporary finance, concluding that the profit from these transactions was not justified. Emphasizing the authenticity of the sales and the lack of actual profit from the fake hundies, the Court found no merit in the appeal and affirmed the Tribunal's decision. en-us Wed, 02 Jan 2013 00:00:00 +0530 Sat, 02 Feb 2013 10:21:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220631 The High Court dismissed the appeal challenging the Income Tax Appellate Tribunal's decision to add an undisclosed sale amount. The Court upheld the Tribunal's findings that the company had a history of using fake hundies for temporary finance, concluding that the profit from these transactions was not justified. Emphasizing the authenticity of the sales and the lack of actual profit from the fake hundies, the Court found no merit in the appeal and affirmed the Tribunal's decision. Case-Laws Income Tax Wed, 02 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220631