M/S.SHEETAL REAL vs. INCOME TAX OFFICER
In the result, the appeal fails and the substantial questions of law
ITA/83/2010HC Orissa08 Feb 2022
Bench: DR. JUSTICE S. MURALIDHAR (CJ),MR. JUSTICE R.K.PATTANAIK
Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 260ASection 372A
deposited in the mixed overdraft account and in case, the
investment was less than the amount of profit earned, it had to be presumed
that the investment was from out of the profits. Reliance was placed on the
decision of the Hon’ble Supreme Court in South Indian Bank Limited
18ITA No. 105 of 2004
ITA/83/2010
REPORTABLE
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