https://www.taxtmi.com/caselaws?id=237694 The High Court allowed the Revenue's appeal, leading to the dismissal of the appellant's appeals concerning the addition of large credits as income under Section 68 of the Income Tax Act. The tribunal found contradictions in the statements of alleged depositors regarding the gold deposits, supporting the Revenue's position. The appellant's complaint about non-compliance with the court's direction in the earlier appeal was addressed by suggesting rectification under Section 254(2) of the Income Tax Act if necessary, but the court declined to further investigate due to the absence of evidence regarding consideration of sales tax records. The appeals were ultimately dismissed. en-us Fri, 08 Mar 2013 00:00:00 +0530 Sat, 05 Oct 2013 07:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237694 The High Court allowed the Revenue's appeal, leading to the dismissal of the appellant's appeals concerning the addition of large credits as income under Section 68 of the Income Tax Act. The tribunal found contradictions in the statements of alleged depositors regarding the gold deposits, supporting the Revenue's position. The appellant's complaint about non-compliance with the court's direction in the earlier appeal was addressed by suggesting rectification under Section 254(2) of the Income Tax Act if necessary, but the court declined to further investigate due to the absence of evidence regarding consideration of sales tax records. The appeals were ultimately dismissed. Case-Laws Income Tax Fri, 08 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237694