M/S SANTHIMADOM HERBAL CITY TRUST,ERNAKULAM vs. ACIT CENTRAL CIRCLE -2, KOCHI

In the result, the assessee’s appeals are partly allowed

Bench: Shri Sanjay Arora, Am & Shri Manomohan Das, Jm

130 ITR 244 (SC). The accounts, it may be appreciated, only form part of the assessee’s explanation. It is this that led us to state of the addition for both the years being on account of unexplained investment; its routing through accounts, where so, notwithstanding, which cannot be allowed to be a ruse (see para 4.6). As explained