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2022 (1) TMI 422 - ITAT DELHIAddition of peek cash credits in the bank accounts - unexplained deposits in the assessee’s bank accounts - HELD THAT:- CIT(A) has given specific finding that there had been constant deposits and withdrawals (from the bank accounts), which took a cyclical pattern - the CIT(A) did not give any consideration to the plea urged by the assessee that profit on the peak amount should be treated as income instead of treating the entire peak amount as income. If the cyclical pattern of the deposits and withdrawals of the bank account were in the nature of business activity, then CIT(A) should have considered the aforesaid plea urged by the assessee. However, this plea has not been examined or considered at all by the Ld. CIT(A). CIT(A) has not given any finding on the assessee’s plea that the agricultural income of aforesaid agricultural income should be given credit. We are of the view that these issues deserved to be considered more comprehensively by the Ld. CIT(A), which she failed to do; and instead she proceeded to pass a cryptic appellate order without proper analysis and without due consideration of the relevant facts - we set aside the impugned appellate order of the Ld. CIT(A) with the direction to pass a fresh appellate order in accordance with law, after providing reasonable opportunity to the assessee - Appeal of the assessee is partly allowed for statistical purposes.
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