SUBHASH CHANDRA Vs. COMMISSIONER OF INCOME TAX INDORE

JUDGEMENT

(1.) Petitioner has filed this petition being aggrieved by the order dtd. 29/3/2021 passed by Commissioner of Income Tax, whereby revision filed under sec. 264 of Income Tax Act in respect of assessment of the year 1996-97 and 1997-98 has been disposed of against the petitioner.

(2.) The facts of the case in short are as under: -

(3.) The petitioner took the advantage of aforesaid VDIS scheme and filed an application under Sec. 65 (1) of the said act on 19/12/1997 disclosing the income to the tune of Rs.1,57,410.00, Rs.1,81,823.00, Rs.2,54,955.00, Rs.3,34,234.00 and Rs.4,46,525.00 for the assessment year 1993-94, 1994-95, 1995-96, 1996-97 and 1997 -98. The petitioner has shown the aforesaid income from sources namely cash, debtors, shares and bank account, which is as under:-