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Commissioner Of Income-Tax vs Korlay Trading Co. Ltd. on 20 February, 1998

However these buyers failed to furnish their books of account. Therefore, the AO treated agricultural income as "income from other sources". However the assessee cannot be penalized on account of non-furnishing of books of account by the buyers. The assessee in support of its claim relied on the judgement of Hon'ble jurisdictional High Court in the case of CIT vs. Korlay Trading Co. Ltd. Reported 322 ITR 820 (Cal).
Calcutta High Court Cites 1 - Cited by 200 - Full Document
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