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2012 (5) TMI 460 - AT - Income TaxDisallowance of Rs.62,19,593 on account of non receipt of confirmation of unsecured loans - Addition u/s 68 - During the course of assessment proceedings, the Assessing Officer noticed that unsecured loans as at the end of relevant previous years stood at Rs.2,52,05,395 whereas, as at the beginning of the year, unsecured loans only amounted to Rs.1,89,85,802 - in the present case, no specific show cause notice with respect to enhancement was not given by the CIT(A) - assessee has now filed additional evidences by way of confirmations and other supporting material to demonstrate bonafides of the creditors - Held that: assessee's failure to have produced all these materials should not come in the way of substantive justice, and, now that the matter is going back to CIT(A) anyway, all these evidences should be examined and considered on merits - Appeal is allowed by way of remand to CIT(A)
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