BHIMA JEWELLERS vs. COMMISSIONER OF INCOME TAX,
ITA/15/2021HC Kerala25 Aug 2022
Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI
For Appellant: M/S BHIMA JEWELLERSFor Respondent: COMMISSIONER OF INCOME TAX
Section 115Section 115BSection 263Section 68Section 69Section 69ASection 69BSection 69CSection 69D
221/-.”
ITA No.15 of 2021 -6-
5. The assessee replied briefly that the unexplained credit
into the capital account has been treated as deemed income
under Section 68 of the Income Tax Act (for short ‘the Act’).
Therefore, it falls under one of the other heads under Section 14
of the Act. Once the deemed income becomes an income earned
