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2014 (1) TMI 295 - AT - Income TaxWhether the investment made by the assessee form part of SLR or current investment or long term investment - The assessee was prevented by sufficient cause in not placing the evidences before the lower authorities and in the interest of justice the additional evidence are admitted for adjudication – Following National Thermal Power Co. Ltd. vs. CIT [1996 (12) TMI 7 - SUPREME Court] - There may be several factors justifying raising of a new plea in an appeal and each case has to be considered on its own facts - The appellate authorities must be satisfied that the ground raised was bona-fide and that the same could not have been raised earlier for good reasons -The appellate authorities should exercise their discretion in permitting or not permitting the assessee to raise an additional ground/ additional evidence in accordance with law and reasons - There should be reasonable cause for furnishing additional evidence belatedly - The additional evidences filed by the assessee are admitted for adjudication - The issue is restored for fresh adjudication.
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