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2015 (1) TMI 314 - AT - Income TaxUnexplained investments - purchase of immovable properties - AO’s enquiry regarding the source of investment as reflected in the information received, the assesses informed that they were out of drawings from partnership firm - investments were not reflected in the assessee’s books - CIT(A) partly allowed the assessee’s appeal - Held that:- important aspect of the explanation of the assessees in this regard is that assessee have made the investments after making necessary drawings from the partnership firm M/s.Deco De Trend. Now the bank statement of M/s.Deco De Trend and the concerned accounts of the firm are relevant for proper adjudication in this case. We find that it is not clear from the records as to whether the assessee has submitted these documents or as to whether these documents were requisitioned and examined by the appellate authorities. We further find that in the appellate order the ld. CIT(A) has simply affirmed AO’s remand report without giving a proper finding of his own. In these circumstances in our considered opinion interest of justice will be served if the issues raised in this appeal are remitted to the file of AO. Accordingly the issues raised in these appeals are remitted back to the file of AO. The AOs are directed to consider the case afresh after giving the assesses proper opportunity of being heard. - Matter remanded back - Decided in favour of assesees.
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