https://www.taxtmi.com/caselaws?id=243274 The High Court upheld the Tribunal's decision to restore the addition of Rs.20 lakhs, stating that the appellant did not retract the voluntary disclosure made by the Managing Director during assessment. The Court dismissed the appeal, emphasizing the importance of admissions unless properly retracted and imposed a cost of Rs.10,000 on the appellant for filing a frivolous appeal. en-us Thu, 02 Jan 2014 00:00:00 +0530 Sat, 05 Apr 2014 09:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=243274 The High Court upheld the Tribunal's decision to restore the addition of Rs.20 lakhs, stating that the appellant did not retract the voluntary disclosure made by the Managing Director during assessment. The Court dismissed the appeal, emphasizing the importance of admissions unless properly retracted and imposed a cost of Rs.10,000 on the appellant for filing a frivolous appeal. Case-Laws Income Tax Thu, 02 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=243274