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2013 (9) TMI 154 - AT - Income TaxUnaccounted cash credit u/s 68 - Bogus cash credit - Unaccounted commission - Principle of natural justice - Held that:- assessee consequent to the assessing officer’s queries furnished all the relevant documentary evidence before the assessing officer. From the perusal of record and order-sheets it clearly emerges that the requirement of physical production of the parties was communicated to the assessee as late as on 17-12-2008 as against the date of assessment being 26-12-2008. Similarly, from the entry dated 22-12- 2008 the assessing officer vaguely stated that some summons were issued on some parties, some came unserved and none appeared. The same is sketchy and non-specific - that it will not be easily possible to ask an assessee to accompany him to the proceedings before the assessing officer. In our view, adverse inference drawn on these issues is unjustified - No adverse material was confronted to the assessee by the assessing officer. Thus, the addition cannot be sustained on the ground of canon of natural justice i.e. audi altem partem. The assessing officer set back on his query and merely asking some non-specific sketchy questions at the fag end of the assessment order, it cannot be held that proper inquiries were instituted - Following decision of Commissioner of Income-tax Versus Gangeshwari Metal Pvt Ltd. [2013 (1) TMI 624 - DELHI HIGH COURT] - Decided against Revenue.
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