Officer's Tax Decision on Forfeited Money Lacked Justification Due to Inconsistent Application of Tax Principles.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Tax an 50% of the money forfeited by assessee from the defaulted members - Had AO excluded the amount offered during the year on the same principles in which he brought the balance 50% of the amount to tax, there could have been some justification in the action of AO - AT....