DR. MANISH CHHAPARWAL ,UDAIPUR vs. DCIT, CENTRAL CIRCLE-2, UDAIPUR
In the result, the appeal of the assessee is partly allowed
ITA 53/JODH/2022[2018-19]Status: DisposedITAT Jodhpur10 Nov 2023AY 2018-19
Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee
For Appellant: Sh. Amit Kothari, Chartered AccountantFor Respondent: Sh. Rajesh Ojha, CIT-DR
Section 115BSection 250
1 has held that in o cases where source of investment/expenditure is clearly identifiable and alleged undisclosed asset has no independent existence of its own or there is no separate physical identity of such investment/expenditure then first what is to be taxed as business receipt invested in unidentifiable unaccounted asset and only on failure it should be considered
