Condition precedent for invoking provisions of section 142A
Last updated: 30 March 2009
Court :
ITAT, DELHI BENCH ‘F’: NEW DELHI
Brief :
Section 142A is attracted, inter alia, where the assessee is found to have made investment outside the books of account or where any such investment made by him is not fully disclosed in the books of account; the condition precedent for making the reference by invoking the provisions of section 142A thus is that there should be something on record to show that the assessee in first place has made such investment outside the books or the investment so made by him is not fully disclosed in the books of account.
Citation :
ITO
v.
Rajeshwar Nath Gupta, HUF
ITA No. 4295/Del/2005
& C.O. No. 375/Del/2007
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CA Devanshi Gandhi (Ajani)
Published in Income Tax
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