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2012 (10) TMI 22 - ITAT INDOREAddition made on account of share trading profit on ground that assessee did not furnish details of such business - Revenue contesting order of CIT(A) deleting the addition - Held that:- CIT(A) has deleted the addition by verifying the ledger of the broker indicating regular transaction of sale and purchase of share by the assessee during the year. CIT(A) observed that AO is at a liberty to take further action in the matter as per law in the event of any income by way of capital gain is found to be involved in the transaction. No infirmity found in the directions issued by CIT(A), while deleting the addition. Addition made on account of cash deposited in the Bank account, deleted by CIT(A) - Held that:- CIT(A) is duty bound to give reasons justifying his action for deletion of any addition. Order passed by CIT(A) without justifying or without giving reason for deletion of any admission has no legs to stand. Accordingly, we set-aside the order of CIT(A) on this ground and in the interest of justice, the matter is restored back to the file of Assessing Officer for deciding afresh as per law - Decided partly in favor of Revenue
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