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Section 2634 Section 115B3 Section 682

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

unexplained cash credit cannot be treated as business income because it is not an income classifiable under any head of income as per section 14 and such incomes are not eligible for set off of brought forward business loss and unabsorbed depreciation