Disposed
The Commissioner of Income Tax v. M/S.Malayil Bankers
Kerala HCITA/33/2012
Case brief
AI extract
What is this about?
Unexplained deposits and suppressed gold-loan interest were disputed in block and regular assessments. The court rejected reliance on insolvency creditor lists, held remands unjustified and restored assessments. Regular-assessment appeals favoured Revenue; the express block-appeal disposition allowed the assessee's appeals despite contrary findings.
What did the court decide?
Cash-credit additions and regular assessments restored; Revenue's regular-assessment appeals allowed. Express block-appeal directions allowed the assessee's appeals.