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2021 (11) TMI 408 - ITAT MUMBAIAddition u/s 68 - unexplained deposit of cash in the bank account - addition made by the Assessing Officer on ad-hoc basis @50% of the sales - HELD THAT:- AO has passed an order based on surmises and conjecture. His order is bereft on cogent material on which addition is based - CIT(A) himself has further passed a contradictory order where he claimed that assessee and the Assessing Officer both are correct. The defect in Assessing Officer's approach pointed out by learned CIT(A) that books have not been rejected, would not warrant sustaining the addition. Further note that the assessee in grounds of appeal has also raised the issue of lack of opportunity. Accordingly in the facts and circumstances of the case I deem it appropriate to remit the issue to the file of the Assessing Officer. Assessing Officer should pass an order afresh after giving the assessee proper opportunity of being heard. Appeal is allowed for statistical purposes.
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