SHAHUL HAMEED,MANANTHAVADY vs. ITO, WARD-2, KALPETTA

In the result, the appeal by the assessee is allowed

Bench: Shri Inturi Rama Rao & Shri Sandeep Singh Karhail

undisclosed income assessed under section 68 need not be treated as an income falling totally outside the ambit of the classifications contained in section 14 of the Act. Even assuming for the sake of argument that, it will not fall within the classifications contained in section 14, it is evident that, as on the date of the assessment such income