The Commissioner of Income Tax -III vs. Sri T.C. Reddy

The appeal stands dismissed

184 8.85 Smt. 7.4.06 2225000 500000 7876500 “8. On preliminary study of the audit report of M/s. Mrigiya Electronics Industries P Ltd. it was noticed that the audit report does not show any activity of land purchased or sale. Neither any profit on account of this activity was reflected in the final accounts. M/s. Mrigiya Electronics Industries P Ltd. showing