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2012 (7) TMI 665 - DELHI HIGH COURTAddition made on account of unexplained share application money - Tribunal remitted the issue on account of unexplained share application money to AO to verify the source of money of the shareholders and make additions in the hands of persons who provided the monies - Held that:- It is unable to uphold the view of the Tribunal that it is incumbent upon the AO to establish with the help of material on record that the share monies had come or emanated from the assessee‟s coffers. Section 68 of the Act casts no such burden upon the Assessing Officer. The Tribunal, however, may be justified in directing the AO to afford an opportunity to the assessee of cross-examining the persons who had allegedly given statements before the Investigation Wing implicating the assessee in the modus operandi adopted by them, namely, giving of accommodation entries for commission - The assessee appears to have sought cross-examination of those persons but that opportunity was not given by the Assessing Officer as found by the Tribunal - in favour of the Revenue
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