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2014 (4) TMI 669 - AT - Income TaxAddition made u/s 68 of the Act – Deposits in the bank account – Opportunity to file submissions not provided - Held that:- The FAA has proceeded to decide the issues after considering the submissions made by the assessee - It is not known as to whether the first appellate authority did call for the details relating to the loan transactions of earlier years or not - Similarly it is not known as to whether the assessing officer also did call for such kind of details – there was merit in the claim of the assessees that they did not get sufficient opportunities to substantiate their submissions. The CIT(A) has proceeded to adjudicate the issue by making certain observations about the failure of the assessee to furnish the details and the observations are seriously disputed by the assessee - the assessees have filed copies of returns of income filed for earlier years as additional evidences would show that they were not furnished before the AO during the course of assessment proceedings – the CIT(A) has made certain presumptions before proceeding to adjudicate the issues and the said presumption entertained by CIT(A) is being questioned by the assessees – thus, the matter is required to be remitted back to the AO for fresh adjudication –Decided in favour of Assessee.
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