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2013 (5) TMI 721 - AT - Income TaxDisallowance of unexplained cash credit - CIT (A) deleted the addition restricting the addition to business income @ 11% GP - Held that:- AO had made addition on the basis that the assessee had deposited cash in his bank account & has not detected any other source of income during the assessment proceedings as transpired from the records by making such finding fact that CIT(A) has not called for remand report from the AO when a specific finding has been given by the AO that the assessee has not produced any document, books of account and other details for verification. Thus this issue should be remitted back to the file of AO for fresh decision. Assessee before AO did not produce the requisite details despite a specific request however, CIT(A) has observed that the assessee had produced some of the confirmations along with their PAN in respect of creditors disallowed by the Assessing Officer. Since the assessee has produced fresh evidence CIT(A) ought to have taken a remand report from the AO. Therefore restore the matter back to the AO for fresh decision. Revenue's appeal stands allowed for statistical purposes.
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