SRI UMA MAHESHWARA RAO CHINNI,GUNTUR vs. ASST COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-1, KOZHIKODE
In the result, the instant appeals by the assesses are dismissed
ITA 895/COCH/2022[2017-18]Status: DisposedITAT Cochin15 Apr 2024AY 2017-18
Bench: Shri Sanjay Arora & Shri Manomohan Dasuma Maheshwara Rao Chinni Asst. Cit, Central Circle -1, Hno. 7-298, 7 Ward Aayakar Bhavan (North Block) Gandhi Bomma Centre Vs. Kozhikode 673001 Dachepalle, Guntur 522414 [Pan:Arjpc0342D] (Appellant) (Respondent)
For Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 115BSection 132ASection 143(3)Section 147Section 148Section 153ASection 69A
gains of business or profession”.
The law in the matter was explained thus:
‘The scheme of sections 69 , 69A , 69B and 69C of the Income-tax Act, 1961, would show that in cases where the nature and source of investments made by the assessee or the nature and source of acquisition of money, bullion, etc., owned by the assessee
