Dcit, Dhanbad vs M/S Mongia Hi-Tech (P) Ltd, Giridih on 11 August, 2023
"As per CBDT circular No. 286/2/2003 dtd. 10.03.2003 it is mention and advises that
there should be focus and concentration on collection of evidences of income which
leads to information on what has not been disclosed or is not likely to be disclosed
9 ITA Nos. 112 & 101/Ran/2019
AY: 2010-11
M/s Mongia Steel Ltd.(Formerly Mongia Hi-Tech Pvt. Ltd.)
before the IT department. It has been decided in the case of Pullangode Rubber
produce co. Ltd. Vs State of Kerla 1973 91 ITR 18(SC) by Hon'b/e Supreme Court
held that an admission is an 'extremely important piece of evidence but it cannot be
said that it is conclusive. It is open to the assessee who made the addition to show that
it is incorrect.