M/S. EXIM INDIA OIL COMPANY LTD,CUTTACK vs. DCIT, CUTTACK
In the result, appeal of the assessee is partly allowed for statistical purposes
ITA 70/CTK/2008[1998-99]Status: DisposedITAT Cuttack08 Jun 2022AY 1998-99
Bench: Before S/Shri George Mathan, Judicial & Arun Khodpia & Arun Khodpia & Arun Khodpiaassessment Year : 1998-99 M/S. Exim India Oil Company M/S. Exim India Oil Company Vs. Dcit, Circle Dcit, Circle-1(1), Ltd., At:N.H-5, Tiberwal Nagar, 5, Tiberwal Nagar, Cuttack Jagatpur, Cuttack Jagatpur, Cuttack Pan/Gir No. No.Aaace 3929 K (Appellant (Appellant) .. ( Respondent Respondent) Assessee By : Shri B.K. Tiberwal Tiberwal, Md Revenue By : Shri M.K.Gautam, Cit ( Cit (Dr) Date Of Hearing : 8/6/ 20 / 2022 Date Of Pronouncement : 8 /6 6/2022 O R D E R
For Appellant: Shri B.K. TiberwalFor Respondent: Shri M.K.Gautam, CIT (
Section 143(3)Section 43BSection 68
Section 68 of the Income Tax Act clearly specifies that any sum found credited in the books of a taxpayer, for which he offers no explanation about the nature and source thereof or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, may be charged to income-tax as the income of the taxpayer
