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2020 (8) TMI 232 - ITAT DELHIAddition u/s 68 - unexplained cash credit - HELD THAT:- Both the parties submitted that two issues in dispute needed a fresh and thorough examination and scrutiny and it would be in fitness of things if both the issues are remitted to the file of the AO for such purpose. Both the parties submitted and agreed that the examination and the verification of the 447 parties would necessarily have to be carried out at the level of the AO. On a query from the Bench, the Ld. Authorized Representative gave an undertaking and assured the Bench that the assessee would fully cooperate in getting the advances verified before the AO. With respect to the interest disallowance both the parties submitted and agreed with this issue also needs detailed enquiry and examination and that the AO would be the best person to carry out such exercise. On this issue also, the Ld. Authorized Representative assured the Bench that the assessee would fully cooperate in getting issue resolve before the AO. Remit issue to the AO for fresh verification, examination and adjudication as per law after giving proper opportunity to the assessee to present its case. We also direct the assessee to extend full co-operation to the AO and submit the relevant documents and details in this regard when called upon to do so - Appeal of the Department stands allowed for statistical purposes.
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