Esthuri Aswathiah vs Commissioner Of Income Tax

Authority: Supreme Court Date: 1967-04-18 AY: 1950-51 Section: 260(1), 254(1) Acts: Indian Income Tax Act, 1922; Mysore Income Tax Act, 1923 Result: Revenue Citation: (1967) 66 ITR 478 (SC) Justices: J.C. Shah, S.M. Sikri & V. Ramaswami, JJ. Appeal No: Civil Appeal No. 631 of 1966
Whether the Income Tax Appellate Tribunal's reduction of unexplained cash credit addition from Rs. 1,37,000 to Rs. 50,000 based on counsel's offer and surmises without proper reasoning was justified --- Held No. Whether the Tribunal had material to reduce the addition --- Held No.

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