2011 (4) TMI 115

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....erred by the Commissioner of Income Tax, Central Revenue Building, Patna against the order dated 29th November, 2007 passed by the Income Tax Appellate Tribunal, Circuit Bench, Ranchi by which the Tribunal reached to the conclusion that there is no evidence on record to show that Assessee was possessing more Kisan Vikas Patra (KVP) either in individual capacity or in H.U.F. capacity so that it wil....

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....disclosed income of the H.U.F. and according to Assessee the H.U.F. paid the tax on that undisclosed income to the tune of Rs.22.5 lakhs as 60% of the tax upon undisclosed income. The Assessing authority declared that the income being the personal income of the Assessee and not H.U.F. property, the property was individual property.   It appears from the impugned order that inspite of the s....