Disposed
The Commissioner of Income Tax, Thiruvananthapuram v. M/S.Malayil Bankers, C/O.Shri.George Varghese
Kerala HCITA/56/2012
Case brief
AI extract
What is this about?
Unexplained deposits and suppressed interest income were disputed in block and regular assessments. The court rejected reliance on insolvency creditors’ lists, held remand unjustified and restored regular assessments. The express block-appeal disposition nevertheless allowed the assessee’s appeals and rejected the Revenue’s, despite adverse findings against the assessee.
What did the court decide?
Regular assessments restored; Revenue’s regular-assessment appeals allowed. Assessee’s block-assessment appeals expressly allowed, notwithstanding contrary findings.