Disposed
M/S. Malayil Bankers, Thiruvananthapuram v. the Commissioner of Income Tax, Kawdiyar, Thiruvananthapuram
Kerala HCITA/163/2015
Case brief
AI extract
What is this about?
Unexplained deposits and suppressed interest income were disputed in block and regular assessments. The court held the insolvency creditor list insufficient, rejected remand and restored regular assessments. Revenue's regular-assessment appeals succeeded; the assessee's failed. The operative block-appeal directions allowed the assessee's appeals and rejected Revenue's.
What did the court decide?
Regular assessments restored and Revenue's regular-assessment appeals allowed; cash-credit additions restored. Operative directions also allow the assessee's block-assessment appeals.