Additional Income Can't Be Treated As Concealed Income: Kerala High Court

In a recent ruling by The High Court of Kerala at Ernakulam, the judicial bench comprising Dr. A.K. Jayasankaran Nambiar and Mr. Justice Syam Kumar V.M. delivered a significant judgment on Income Tax Appeal No. 75 of 2020. The case involved The Principal Commissioner of Income Tax, Kochi-1 as the Appellant/Respondent and Shri. Ambady Krishna Menon as the Respondent/Respondent. Case Background: The dispute arose from an assessment year 2011-12 wherein…